No-bias, no trending.

Repeatedly returning to unchanged really puts a damper on things.

[pay]This afternoon’s 1257.50 bias-up signal was still being tested within 3 minutes of the 1:20 timing window, invoking the 10-minute grace period. It was recovered up to 1259.00 by 1:30, to signal “late bias-up.”

Its 1262.75 bias-up target is in-play, and 1262.75 would become “unfinished business above” if the bias environment were exited at 2:30 above 1257.50. But a “late” bias signal is more vulnerable to exiting the bias environment back under its signal, which would invalidate 1262.75.

Back under 1256.25 would start to suggest the late bias-up had failed. Meanwhile, potential for fresh afternoon highs and fresh session highs depends a lot upon resuming the rally without further delay.

[/pay]