No-bias, i.e. no sustainable gain.

[pay]The pre-open decline did produce a bounce, up 7 points to ESm 1393’75, 1 point above the bias-up signal. The bounce was as steep as the pre-open drop, and it wasn’t any more sustainable. Another attack on the 1388’00 bias-down signal was underway when the 10:15 timing window triggered no-bias. That means trending is unlikely this morning, and any trending attempted this morning would likely be retraced.

That didn’t stop another bounce up to 1393’75, but it will need to be exceeded through 10:30 to trigger any sort of buy signal. Its likely target would be the 1396’25 overnight high, and possibly the 1401’50 bias-up target. Regardless of the eventual gain (if any), the origin’s no-bias timing would make its complete retracement likely.[/pay]