Bias-parameters
Afternoon bias
[pay]
| THU afternoon signal | SPX | ES |
| Bias-up: above | 1370.50 | 1372’00 |
| …would target | 1375.50 | 1377’00 |
| Bias-down: under | 1364 | 1365’50 |
| …would target | 1355.25 | 1356’75 |
| Signal status: bias-up target met FAQ | ||
[/pay]
No-bias signaled, but not yet clearly.
[pay]S&Ps recovered back above the ESm 1366’00 bias-down signal through 10:15 to signal no-bias. Back under 1366’00 through 10:30 (it’s already being tested) would trigger a late bias-down, which would be credible so long as the drop didn’t hesitate until retesting the low around 1360’00. Under 1363’00 would help to confirm, and could be used as a stop after being broken. But back above 1366’00 through 10:30 would confirm that the bias-down signal failed to trigger, and then put into play a test of the 1377’50 bias-up signal.[/pay]
Morning bias
[pay]
| THU morning signal | SPX | ES |
| Bias-up: above | 1377’50 | |
| …would target | 1386’75 | |
| Bias-down: under | 1366’00 | |
| …would target | 1357’00 | |
| Signal status: No-bias… waiting for trigger (10:15am ET or 1:20pm ET) FAQ | ||
[/pay]
Afternoon bias
[pay]
| WED afternoon signal | SPX | ES |
| Bias-up: above | 1380’00 | |
| …would target | 1386’75 | |
| Bias-down: under | 1372’50 | |
| …would target | 1364’25 | |
| Signal status: bias-down FAQ | ||
[/pay]
Bias-down target met
[pay]The open’s drop fell to the ESm 1365’50 bias-down target. The bias window at 10:15 was exited back under yesterday’s highs, and also under the bias-down signal. Back above 1369’00 and preferably also 1371’00 through the bottom of the hour would signal a retest underway of the overnight high at 1377’25. Back under the bias-down target could instead develop into a much deeper pullback. The overnight high is a “new Globex trend extreme” that requires being retested during regular trading hours, so this pullback or a deeper one probably wouldn’t become a new downleg first[/pay]