Bias-parameters
Afternoon bias
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| FRI afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1070.00 | 1065’50 |
| …would target | 1075.25 | 1070’75 |
| Bias-down: under | 1062.50 | 1058’00 |
| …would target | 1056.50 | 1052’00 |
| Signal status: NO-BIAS | FAQ | |
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Morning bias
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| FRI morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1072.75 | 1068’25 |
| …would target | 1077.00 | 1072’50 |
| Bias-down: under | 1062.50 | 1058’00 |
| …would target | 1056.50 | 1052’00 |
| Signal status: NO-BIAS… Apostrophes in futures quotes will end after Friday. Both cash and futures will use decimal points. | FAQ | |
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When is a bias-down not a bias-down?
…When it triggers ahead of expiration, while RSIs diverge positively. Lower lows are still possible, but if there’s any environment capable of interfering with a signal this is it.
[pay]The afternoon’s 1061’00 bias-down signal remained broken through 1:20 while S&Ps ranged narrowly around 1058’00. Buyers are marginalized until the bias-down environment starts lapsing after 2:30.
RSIs diverged positively at the lows, so the bias-down target isn’t so assured. This setup probably wouldn’t even have developed normally, if not for the influences of tomorrow’s fast-approaching expiration.
A bounce isn’t necessarily indicated, but RSIs might produce a one here. This being a bias-down environment, a bounce would require being retraced back down to its low. Regardless, the more likely scenario for the next hour is to range at the lows.
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Afternoon bias
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| THU afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1072.50 | 1068’00 |
| …would target | 1077.00 | 1072’50 |
| Bias-down: under | 1065.50 | 1061’00 |
| …would target | 1056.50 | 1052’00 |
| Signal status: BIAS-DOWN | FAQ | |
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Morning bias
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| THU morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above |
1069.75 | 1065’25 |
| …would target |
1073.50 | 1069’25 |
| Bias-down: under |
1064.50 | 1060’25 |
| …would target |
1056.50 | 1052’00 |
| Signal status: BIAS-UP, BIAS-UP TARGET MET | FAQ | |
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