Bias-parameters

Bias-down holds as support. For now.

By Rod David | May 3, 2011 - 10:39 am

Choppy, choppy open still trying to find its footing.

[pay]Pre-open consolidation between 1353.50-1354.25 initially broke higher to 12356.00. A dip to 1352.00 bounced to fresh highs at 1357.25.

It’s too late to trigger bias-down under 1353.50. And having held its test through 10:15, this morning’s no-bias signal’s objective is to test the 1361.50 bias-up signal. Recovering 1356.00-1356.50 would signal the bounce’s correction had ended.

Exiting the bias environment back under 1353.50 would invalidate the no-bias, and nullify its 1361.50 objective. And 1353.50‘s support is being probed now by 1 point. Any lower would suggest the bounce’s correction was not a correction, that the bounce was the correction, and that the decline had resumed.

[/pay]

Posted in Bias-parameters, S&P

THU morning signal (triggered at 10:15 ET)	SPX	ES
Bias-up: above	1349.50	1346.00
…would target	1354.50	1351.00
Bias-down: under	1343.25	1339.75
…would target	1336.50	1333.00
Signal status: BIAS-DOWN, TESTED BOTH BIAS-DOWN PARAMETERS		FAQ
INTRO VIDEOS #1 and #2

WED afternoon signal (triggered at 1:20 ET)	SPX	ES
Bias-up: above	1348.00	1344.50
…would target	1353.50	1350.00
Bias-down: under	1340.50	1337.00
…would target	1334.75	1331.25
Signal status: NO-BIAS		FAQ
INTRO VIDEOS #1 and #2

WED morning signal (triggered at 10:15 ET)	SPX	ES
Bias-up: above	1358.75	1355.25
…would target	1365.00	1361.50
Bias-down: under	1352.00	1348.50
…would target	1345.50	1342.00
Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET		FAQ
INTRO VIDEOS #1 and #2

TUE afternoon signal (triggered at 1:20 ET)	SPX	ES
Bias-up: above	1361.75	1358.25
…would target	1367.00	1363.50
Bias-down: under	1357.00	1353.50
…would target	1352.00	1348.50
Signal status: BIAS-DOWN		FAQ
INTRO VIDEOS #1 and #2

Morning bias

Afternoon bias

Morning bias

Afternoon bias

Bias-down holds as support. For now.