Bias-parameters
Morning bias
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| WED morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1104.50 | 1101.00 |
| …would target | 1109.25 | 1105.75 |
| Bias-down: under | 1098.00 | 1094.50 |
| …would target | 1092.50 | 1089.00 |
| Signal status: NO-BIAS, BIAS-DOWN SIGNAL TESTED | FAQ | |
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Afternoon bias
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| TUE afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1101.00 | 1097.50 |
| …would target | 1105.75 | 1102.25 |
| Bias-down: under | 1092.75 | 1089.25 |
| …would target | 1086.50 | 1083.00 |
| Signal status: NO-BIAS | FAQ | |
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Morning bias
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| TUE morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1090.75 | 1087.25 |
| …would target | 1095.25 | 1091.75 |
| Bias-down: under | 1084.50 | 1081.00 |
| …would target | 1078.50 | 1075.00 |
| Signal status: BIAS-UP. STILL TESTING BIAS-UP SIGNAL | FAQ | |
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When is a bias-up not a bias-up…
…When it only keeps away sellers.
[pay]The 1083.25 bias-up signal was recovered just in time to trigger. New session highs through the 1:20 timing window touched 1084.75. A dip into 1:30 didn’t touch the bias-up signal, but it came within 1 tick.
So, this afternoon’s bias-up environment is just that. Which doesn’t necessarily launch a rally. The most bullish consequence might be to prevent a downleg from gaining traction. Regardless, it’s the only buy signal, since all others were fulfilled this morning. And the 1082.00-1083.00 bounce potential is still pretty strong resistance.
Back under 1081.25 again could open another window for sellers. But probably not until much nearer to 2:30 when the bias environment starts lapsing. By the same token, ticking higher into that same window would be credible for extending the bounce – perhaps into the close.
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Afternoon bias
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| MON afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1088.75 | 1083.25 |
| …would target | 1091.00 | 1087.75 |
| Bias-down: under | 1079.75 | 1076.50 |
| …would target | 1073.75 | 1070.25 |
| Signal status: bias-up | FAQ | |
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