No-bias rally, more unfinished business below.

[pay]Despite the no-bias environment, a break higher has touched the afternoon’s 917’25 bias-up target. If this is the triangle described previously, then this is its false break, with a retracement back into the pattern now likely. So, under 914’00 would target 908’50.

A Symmetrical Triangle’s false break might have been only premature, so its retracement would recover and resume the original breakout. Ascending Triangles tend to have broken in the wrong direction, so their retracements reverse down more substantially in the opposite direction.

The longer a pullback is delayed, the more likely that it is more than just a pullback. That assumes there’s a pullback, at all. Not pulling back would be equally likely either to drift higher or to just range sideways. So, equal chances at resolving up, down or flat – but a high likelihood that resolving down would mean falling sharply.

The difference may be decided by technicals. At this moment, the bias-up target has held another retest while both 1-minute and 3-minute MACD & RSI diverged negatively, pointing down.

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