Bias-parameters
Bias-up target met, and then some
[pay]The morning’s complex ascending triangle broke higher to consolidate above the ESu 1287’25 bias-up signal, which broke higher to meet the 1291’25 bias-up target, which extended further to 1295’00. Whew.
The triangle’s breakout was expected. The breakout’s sustainability was dubious, and still is. Complex triangles tend to reverse their breakouts. The 10-point gain since then makes no difference, justified by the optimistic environment (evidenced by the shallow consolidations since this morning’s surge).
If sellers don’t step in here with a break under 1292’00 initially targeting 1288’00, then above 1295’50 would next target 1303’00.
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Afternoon bias
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| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1287.50 | 1287’25 |
| …would target | 1291.25 | 1291’25 |
| Bias-down: under | 1281.75 | 1281’75 |
| …would target | 1273.25 | 1273’00 |
| Signal status: Bias-up | FAQ | |
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Morning bias
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| FRI morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1273 | 1272’50 |
| …would target | 1278.25 | 1278’00 |
| Bias-down: under | 1263.75 | 1263’50 |
| …would target | 1259 | 1258’75 |
| Signal status: Bias-up, bias-up signal met | FAQ | |
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Afternoon bias
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| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1281.75 | 1281’25 |
| …would target | 1289.50 | 1289’00 |
| Bias-down: under | 1276.25 | 1275’75 |
| …would target | 1270.75 | 1270’25 |
| Signal status: No-bias, tested bias-up signal | FAQ | |
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Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1289.50 | 1289’00 |
| …would target | 1295.50 | 1295’00 |
| Bias-down: under | 1283.50 | 1283’00 |
| …would target | 1274.50 | 1274’00 |
| Signal status: Bias-down, bias-down target met | FAQ | |
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