Bias-parameters
Morning bias
[pay]
| WED morning signal | SPX | ES |
| Bias-up: above | 1347.50 | 1349’00 |
| …would target | 1353.25 | 1354’75 |
| Bias-down: under | 1344.50 | 1346’00 |
| …would target | 1340 | 1341’25 |
| Signal status: Bias-down target met | ||
[/pay]
Morning bias
[pay]
| WED morning signal | SPX | ES |
| Bias-up: above | 1354.50 | 1356’00 |
| …would target | 1360.50 | 1362’00 |
| Bias-down: under | 1348.50 | 1350’00 |
| …would target | 1342.50 | 1344’00 |
| Signal status: waiting for trigger | ||
[/pay]
Bias-up
[pay]The bullish scenario is playing out, with a break above the afternoon’s ESm 1353’00 bias-up signal. Now the morning’s high is being retested as resistance at 1356’00. That’s still 3 points under the pre-open high, but the highest appropriate stop now is 1354’50 – preferably no lower than the 1353’00 bias-up signal itself.
Back above yesterday afternoon’s low was the first step in a bullish scenario, and that was fulfilled, but buyers still have more to prove. And back under 1351’00 through a relevant timing window like 2:30pm ET would signal that sellers were gaining traction again.[/pay]
Afternoon bias
[pay]
| TUE afternoon signal | SPX | ES |
| Bias-up: above | 1351.50 | 1353’00 |
| …would target | 1357.50 | 1359’00 |
| Bias-down: under | 1346 | 1347’50 |
| …would target | 1340 | 1341’50 |
| Signal status: Bias-up | ||
[/pay]
Morning bias
| TUE morning signal | SPX | ES |
| Bias-up: above | 1350.50 | 1352’00 |
| …would target | 1357 | 1358’25 |
| Bias-down: under | 1347.75 | 1349’00 |
| …would target | 1340 | 1341’50 |
| Signal status: waiting for trigger | ||