No-bias has ended, but you might not know it

[pay]The no-bias environment saw S&Ps dip down to nearly touch this morning’s lows. S&Ps were back into positive territory when the no-bias signal started lapsing at the bottom of the hour, taking away sellers’ edge – not that they had any since the lows were produced during a no-bias environment. But now the no-bias signal has lapsed.

That might not make any difference today, since the market doesn’t appear to be interested in trending. This morning’s new high was rejected, after recovering from the open’s dip, and now also recovering from the early afternoon’s dip. Moves through the close are probably going to be limited to 2-3 points. Bigger fireworks at tomorrow’s open – an attempt to resume the rally, and then its failure – would mark a more significant high.[/pay]