No-bias, and then some.

[pay]The 1:20 timing window signaled no-bias by exiting between both signals. The bias-down signal’s early touch did produce a bounce that took S&Ps back to the range’s center around ESm 1395’00. So with liquidity quickly evaporating ahead of the three-day holiday weekend, the market is equidistant from either end of its trading range, with no bias signaled either way. Lovely. Shall we do this blindfolded, as well?

This environment is less than ideal for positioning in advance of a move. Instead we’ll look for moves to either end of the range and assess the accompanying MACD & RSI for reason to “fade” the move and anticipate its reversal back into the range. The current candidate is a test of 1397’50, with a stop about 1 point higher.[/pay]