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Mid-day Update… False alarm. – If, Then… Market Timing

Mid-day Update… False alarm.

25-point rally into the afternoon.

es_063016_noonWhen the 2065.00 bias-up signal was recovered 1 minute too late to trigger, I was skeptical

Overstated? Not warranted? No. But clearly not necessary. Rejecting the late dip down to 2061.50 was extended into the bias environment exit, piercing its 2077.00 objective. Rallying throughout the noon hour has recovered to 2085.50.

Exceeding this afternoon’s 2083.00 bias-up target at 1:20 would renew the bias-up signal, next targeting at least 2087.50. It’s still a bias-up environment so long as 2077.00 isn’t rejected through 1:30 — which could find a deep air pocket back down to 2065.00.