Isn’t “bearish” supposed to trend down?

Bearish WedEX hasn”t yet stretched its legs.

Having invalidated the morning”s bias, probing above its signal was NOT “”no-bias trending.” That would otherwise require retracing the subsequent rally to 2000.75.

Meanwhile, just having opened under yesterday”s low and the overnight highs should doom to failure the morning”s bounce. It”s certainly impressive how much the bounce has stretched its rubber band. Two sell signals have triggered and probed deeper than their first 3 minutes, but only to bounce back above a failed buy signal.

And the market was still hovering at session highs with noon fast-approaching. Also fast-approaching was the bearish WedEX influence.

Still testing the morning”s 1995.50 bias-up target as the bias environment lapses is not necessarily bullish. But exiting the bias environment under its 1989.75 bias-up signal would have been bearish. 

Beware that the bearish WedEX may be invalidated if the noon hour were to trend any higher. It”s probably too late to invert and be bullish. Regardless, triggering bias-down upon exiting the noon hour would confirm WedEX.