Bias-parameters
Morning bias
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| FRI morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1414.25 | 1415’25 |
| …would target | 1420.25 | 1421’25 |
| Bias-down: under | 1409 | 1410’00 |
| …would target | 1403 | 1404’00 |
| Signal status: Bias-up target 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 | 1398 | 1399’00 |
| …would target | 1403 | 1404’00 |
| Bias-down: under | 1390.50 | 1391’50 |
| …would target | 1385.25 | 1386’25 |
| Signal status: Bias-up target met | FAQ |
|
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Bias-up target met
[pay]Three probes of the ESm 1388’00 bias-up signal ranged 2-1/2 points either way of the ~1390’00 overnight highs. A higher high just met this morning’s 1394’00 bias-up target, and pullbacks must now hold any brief test of 1391’50 to maintain the rally’s momentum (and its potential to touch 1396’00).
MACD & RSI deteriorated during the consolidation around overnight highs, this higher high is less likely to hold or extend much higher for very long. So a drop under 1391’50 through 11:30 (or not long after it) would serve as a sell signal – it might even be this afternoon’s bias-down signal. Meanwhile, there is potential for price action to become paralyzed this afternoon ahead of tomorrow’s Employment report, so S&Ps are more likely to trade flat to lower from here.[/pay]
Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1387 | 1388’00 |
| …would target | 1393 | 1394’00 |
| Bias-down: under | 1379.50 | 1380’50 |
| …would target | 1370 | 1371’00 |
| Signal status: Bias-up | FAQ |
|
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Afternoon bias
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| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1398.75 | 1400’00 |
| …would target | 1407.75 | 1408’75 |
| Bias-down: under | 1395.25 | 1396’25 |
| …would target | 1388 | 1389’00 |
| Signal status: No-bias, after testing bias-down signal | FAQ |
|
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