Late bias-up meets (met) its mark

[pay]The late test of the bias-up signal did eventually extend higher to and through the bias-up target. The delay in getting started still undermines the rally’s durability, and the gain should still be returned. MACD & RSI are diverging negative into repeated tests of the ESm 1321’00 area, and back under 1316’50 would signal that the entire no-bias upleg was about to be retraced, targeting the 1310’00-1311’00 area.

I really hope I’ve been successful at making clear in this week’s posts how odd and unusual today’s price action could be, due to the expiration, the expiration’s unusual timing for a Thursday, the unusual timing of a Friday holiday instead of Monday, the impending three days of illiquidity, and the generally opinionated environment. That said, this being a no-bias environment, the late gain should still be retraced, next week if not today.[/pay]