No-bias, and no buyers.

[pay]The ESu 1247’50-1248’00 bounce limit held two attacks around the 10:15 timing window, which was still testing the 1246’50 bias-up signal. This earned an extra 15-minute grace period to 10:30, during which the 1240’25 low’s required retest was  fulfilled down to ESu 1238’00.

At 10:30 S&Ps had recovered back above 1240’25 to indicate that sellers weren’t gaining traction from their efforts. The market has since ranged sideways.

Signaling no-bias after fulfilling the bias-up target is equivalent to being a sell signal whose target is the 1232’50 bias-down signal. The no-bias signal required a grace period, so the sell signal isn’t as clear. Sellers might not have gained traction, but buyers did not, so the bias-down signal’s test remains likely regardless of the path there.

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