No-bias (sell signal?)

[pay]The cash session’s open failed to retest the ESm 1429’00 bias-up signal before reversing back under the 1424’00 bias-up signal. The first recovery attempt was swatted down to new session lows by the Consumer Sentiment report.

Exiting the 10:15 timing window under  1424’00 triggered a sell signal because a reversal under the bias-up signal after having met the bias-up target converts the bias-up signal into a sell signal. This action fits very well into the timing window for Thursday’s decline to resume at this morning’s open.

Meanwhile the bias-up signal’s failure reached 1419’50 where a bounce up to 1422’50 tried to rob sellers of their traction. Somehow recovering back above 1424’00 through 10:30 would be quite a feat, almost qualifying as a late bias-up. Otherwise, the decline’s next confirmation is under 1421’00. [/pay]