Bias-parameters

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1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the morning’s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
— “Late” signals don’t require testing the opposite bias signal, but it’s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.

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Pre-open surge is rejected. But the rejection might be rejected, too.

[pay]The overnight rally improved through the open to 1799.50. Touching it before 9:45 required exceeding it through 9:45 for the 1796.50 bias-up signal to be likely to trigger at 10:15. RSIs were diverging negatively into its test, enabling its reaction down to 1792.50.

Along the way, the 1796.50 bias-up signal was rejected through 10:15 to trigger no-bias. Rejecting a test of one bias signal through 10:15 puts into play an offsetting test of the other bias signal. So, a test of the 1789.50 bias-down signal is targeted.

It almost wasn’t.

A 4-1/2 point reaction up from 1792.50 is testing the 1796.50 bias-up signal. Its recovery through 10:30 would have invalidated anything already signaled by its rejection through 10:15. It wasn’t recovered through 10:30, albeit only by a 3-tick margin — which is not a recovery.

The no-bias and its 1789.50 objective get every benefit of the doubt. Back under 1794.50 would signal its test was back in-play. Exiting the bias environment at 11:30 back above 1796.50 would be the next opportunity to assume that sellers are neutralized.

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1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be “no-bias,” and the bias signals should define the morning’s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
— “Late” signals don’t require testing the opposite bias signal, but it’s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.

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Fresh session high coming late.

[pay]This morning’s 1794.00 bias-up target became “unfinished business above” when left outstanding this morning. It was just touched while going into the final hour.

That’s a new high. On a Friday. During expiration. Reversing down with any predictability would need to be signaled through the 3:10-3:20 timing window. Trending down after that window would be possible, but not predictable.

Extending higher is also possible. Despite fulfilling this morning’s buying pressure, it is almost as difficult to restrain late expiration trending as it is difficult to reverse it. But back under 1791.50 would start to suggest that today’s buyers are finished.

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1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the morning’s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
— “Late” signals don’t require testing the opposite bias signal, but it’s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.

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