Bias-parameters
Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1375.25 | 1375’50 |
| …would target | 1380.75 | 1382’00 |
| Bias-down: under | 1370.50 | 1371’75 |
| …would target | 1364.25 | 1365’50 |
| Signal status: No-bias, after meeting bias-up target (optionally, converting into a bias-down signal) | FAQ | |
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Afternoon bias
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| WED afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1383 | 1384’25 |
| …would target | 1389.75 | 1391’00 |
| Bias-down: under | 1377.25 | 1378’50 |
| …would target | 1366.50 | 1368’00 |
| Signal status: Bias-down | FAQ |
|
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Bias-down target met.
[pay]The ESm 1381’75 bias-down signal’s break didn’t waste time falling to its 1375’00 target within 45 minutes. The drop even extended down to 1373’50, which was yesterday’s last sell signal that also held a touch as support instead of breaking lower. That touch launched a 13-point rally into overnight highs. Back above 1377’50 would trigger a 4-point bounce back to this morning’s bias-down signal.
Meanwhile the 1373’50 low was an emotional extreme that requires a retest. The retest could probe several ticks lower then recover, and that would allow me to lower the 1377’50 buy signal. But if the retest breaks lower – as the market is destined to do eventually – then failing to hold the retest would resume yesterday morning’s drop. And resuming the drop would trigger more than a pullback to last Thursday’s highs. Much more.[/pay]
Morning bias
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| WED morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1384.50 | 1386’00 |
| …would target | 1392.75 | 1394’00 |
| Bias-down: under | 1380.50 | 1381’75 |
| …would target | 1373.50 | 1375’00 |
| Signal status: Bias-down, target met overnight | FAQ |
|
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Afternoon bias
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| TUE afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1380.75 | 1382’25 |
| …would target | 1387.75 | 1389’00 |
| Bias-down: under | 1377 | 1378’25 |
| …would target | 1366.50 | 1368’00 |
| Signal status: Bias-down | FAQ | |
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