Bias-parameters
Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1247.50 | 1248’25 |
| …would target | 1253 | 1253’50 |
| Bias-down: under | 1242.75 | 1243’25 |
| …would target | 1234.25 | 1235’00 |
| Signal status: waiting for trigger, Bias-up target met | FAQ | |
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Bias-up target holding into the noon hour.
[pay] A MAD & RSI diverged negatively into a probe of new session highs at ESu 1229’25 that produced a 9-point drop. But S&Ps have essentially only ranged around the first half-hour’s test of this morning’s 1224’00 bias-up target. So despite the higher highs and avoiding a pullback, buyers haven’t gained traction.
Sellers haven’t gained traction either. If they haven’t done so coming out of the noon hour, then a favorable reaction to this afternoon’s FOMC minutes would be likelier. But back under 1218’00-1220’00 would start indicating the market is more interested in using news as an excuse to sell.
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Afternoon bias
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| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1226 | 1226’75 |
| …would target | 1232 | 1232’50 |
| Bias-down: under | 1219 | 1220’00 |
| …would target | 1212 | 1212’75 |
| Signal status: Bias-up target met | FAQ | |
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Morning bias
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| WED morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1217.25 | 1218’00 |
| …would target | 1223.25 | 1224’00 |
| Bias-down: under | 1211.25 | 1212’00 |
| …would target | 1206.25 | 1207’00 |
| Signal status: Bias-up target met, late Bias-up signal | FAQ | |
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Afternoon bias
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| TUE afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1223.25 | 1224’00 |
| …would target | 1228.25 | 1229’00 |
| Bias-down: under | 1217.25 | 1218’00 |
| …would target | 1208.75 | 1209’50 |
| Signal status: Bias-up, target met | FAQ | |
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