Bias-parameters
Morning bias
Now, THAT’S a bias-down!
Another bias-down signaled, another bias-down target met, but this time without offering support.
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The all but assured break under overnight lows did require dropping the anvil from a higher level, a bounce that tested 1173.25. The afternoon’s 1165.00 bias-down signal broke late, but broke, and its 1157.00 bias-down target has been met.
The next lower objective at 1153.00 is probed too, by nearly 1 point. Oversold RSIs aren’t slowing the drop. In fact, 1-minute RSI diverged positively at 1157.00 and didn’t produce a bounce.
Exiting the bias environment after 2:30 under 1153.00 could trend down considerably into the close. Entering the last hour above 1155.50 would suggest the drop had lost traction.
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