No-bias, no bias up.

[pay]The afternoon’s no-bias environment was triggered after the 1003’50 bias-up signal held a test as resistance. There is therefore an objective to test the 996’25 bias-down signal. This setup is much more reliable in the morning than afternoon, and it’s the same setup that help this morning’s opening dip to recover.

Actually, this morning’s opening dip recovered only briefly, and mostly during the noon hour. Another dip this afternoon has come within 1 point of the bias-down signal. More important is that extending the dip could close under this morning’s ~994’00 lows. This would form a Pivot Reversal setup, typically followed by the trend changing direction.

Just closing negative under 1000’00 would signal that buyers had lost momentum. Buyers could still regain traction today by closing above 1001’00. That window has opened since the afternoon’s no-bias environment is lapsing. Simultaneously oversold RSIs at the afternoon’s 997’00 low suggest it will be retested.

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