Fighting the bias-down signal.

[pay]The pullback’s ESm 1361’50 target was met, and exceeded by at least 1 point in an emotional extreme that required a retest. The retest came in reaction to Jobless Claims data an hour ago and has since held. The news spigot is now off until LEI at the top of the hour.

I would like to see the 1365’00 bias-down signal recovered by then, helping a favorable reaction to LEI that gets S&Ps back up to overnight highs. Although this overnight high doesn’t require a retest, the gap back to yesterday’s cash session close should suffice to magnetically attract price higher. But I don’t want to enter long under 1364’00 or hold long under 1361’50 while waiting for bigger buyers to join in.[/pay]