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Mid-day Update… Target being met. – If, Then… Market Timing

Mid-day Update… Target being met.

Rally’s next objective now being met.

es_021317_noonThis morning’s 2323.25 bias-up target was clearly influential, being the window’s high. But it did not attract counter-trend sponsorship to reverse the trend down. So, as the bias environment lapsing came within view, fresh highs became likely by default.

Fresh highs printed quickly as the bias environment began lapsing, and extended slowly as the noon hour developed. But the slope has steepened into the bias timing window. The 2325.75 bias-up signal is being probed up to 2327.75.

The bias-up signal was also being touched within 3 minutes of 1:20, invoking the grace period. And 2327.00 is being overlapped by every bar probing above it. Triggering late bias-up would still target 2331.50, but is more easily invalidated without probing any higher after 1:30.