Bias-parameters
Afternoon bias
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| TUE afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1177.25 | 1174.00 |
| …would target | 1183.25 | 1180.25 |
| Bias-down: under | 1171.75 | 1168.75 |
| …would target | 1166.75 | 1163.50 |
| Signal status: NO-BIAS | FAQ | |
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Bias-down-down-down.
Sharply lower lows coming into outstanding objectives.
[pay]The retest of last week’s 1176.75 Globex lows was narrowly avoided by the open’s drop. Despite a drop of more than 20 points, this was just more of the same optimism that characterized yesterday’s bounce as a correction.
Regardless, this morning’s environment is bias-down, and a bounce to 1183.00 reacted down through 10:30. That leg has reached 1171.50, within a couple of ticks of the 1171.00 target.
RSIs are improving again, making this low likelier to hold, or at least refuel sellers. It’s still a bias-down environment and I’m willing to sell under 1171.00. That might be this afternoon’s bias-down signal, with a 1164.00-1165.00 bias-down target.
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Morning bias
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| TUE morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1207.25 | 1204.00 |
| …would target | 1211.25 | 1208.25 |
| Bias-down: under | 1198.00 | 1195.00 |
| …would target | 1192.50 | 1189.25 |
| Signal status: BIAS-DOWN, BIAS-DOWN TARGET EXCEEDED | FAQ | |
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Afternoon bias
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| MON afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1198.25 | 1195.00 |
| …would target | 1200.25 | 1200.25 |
| Bias-down: under | 1193.00 | 1190.00 |
| …would target | 1187.50 | 1184.25 |
| Signal status: BIAS-UP, BIAS-UP TARGET MET | FAQ | |
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Morning bias
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| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1191.50 | 1188.25 |
| …would target | 1196.75 | 1193.50 |
| Bias-down: under | 1184.75 | 1181.50 |
| …would target | 1178.75 | 1175.50 |
| Signal status: BIAS-UP | FAQ | |
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