Lost traction may have cost buyers their bias-up.

[pay]The morning’s 942’50 bias-up signal barely held as support through the morning. A dip is still 1 tick above the 939’50 level that had defined the overnight accumulative probes. Those probes were already productive with a new high, so probes under 939’50 would now mean sellers are gaining traction.

Back above 944’50 would signal another attempt to test this morning’s 950’50 bias-up target. That would be difficult back under 938’00, which would make the retest of yesterday’s high capable of serving as this morning’s bias-up target instead. And this is not a good area for buyers to have no unfinished above.

For now, this morning’s pullback has a chance to recover going into and coming out of the noon hour. Buyers won’t have much of a chance to recover otherwise.

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