No-bias environment: a no-bias rally?

[pay]The 942’50 bias-up signal was still being tested at 1:20 to invoke the 10-minute grace period. It was still being tested at 1:30, officially triggering a no-bias environment. Having needed the grace period to do so, the 936’50 bias-down signal doesn’t need a test as would have been required otherwise.

It’s actually more possible (not necessarily likelier) to probe new session highs. But the no-bias environment and the running correction that preceded it make any near-term buying suspicious – too late and too early to be capable of straying too far from the mid-day range.

That’s an ideal situation to fulfill the 950’50 area, leaving time to also fulfill the Descending Triangle’s false breakout characteristic. Better buyers would waiting until the last hour approaches before extending the rally.

[/pay]