Bias-parameters
Afternoon bias
[pay]
| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1398.50 | 1399’00 |
| …would target | 1305.50 | 1406’00 |
| Bias-down: under | 1391.50 | 1392’00 |
| …would target | 1384.50 | 1385’00 |
| Signal status: No-bias (late bias-up triggered) | FAQ | |
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Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1400 | 1401’00 |
| …would target | 1497.75 | 1408’75 |
| Bias-down: under | 1393.25 | 1394’25 |
| …would target | 1384 | 1385’00 |
| Signal status: Still testing bias-down | FAQ | |
[/pay]
Bias-down signaled.
[pay]The noon hour’s consolidation broke lower at the noon hour’s end. A bounce back above ESm 1410’00 through 1:30 in this particular pattern would not only invalidate the bias-down signal, but also signal that momentum was reversing up, confirmed above 1412’25. Otherwise, the 1404’50 bias-down target remains in-play.[/pay]
Afternoon bias
[pay]
| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1415.50 | 1416’50 |
| …would target | 1420.25 | 1421’25 |
| Bias-down: under | 1408.50 | 1409’50 |
| …would target | 1403.50 | 1404’50 |
| Signal status: Bias-down | FAQ | |
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No-bias is a…
[pay]The no-bias environment was entered after holding a test of the ESm 1414’25 bias-down signal. That put into play a test of the 1421’25 bias-up signal. The bounce had come within 1 point when a drop suddenly shed nearly 7 points to test the overnight low. MACD & RSI diverged positively at the low and this is still a no-bias environment, so the range’s lower-end shouldn’t break decisively before 11:30. The test of the bias-up signal is in-play if the range’s lower-end doesn’t break.[/pay]