No-bias squeeze.

No-bias environment sucked out the volatility. Now the no-bias is lapsing.

[pay]A subscriber asked me to repeat the comments I just made in the chartroom:

We caught three satisfying, multi-point moves this morning. Admittedly, some of that satisfaction comes from having played both sides of the market successfully. Anyway, some might consider this justifies taking a wider selection of setups this afternoon. I believe it justifies being even more selective. This isn’t a Hold-em tournament whose blinds are being raised every half-hour. There’s no rush.

In fact, there has been only noise since triggering the afternoon’s no-bias environment. Perhaps the action can be characterized as a bounce, or it might become one. Regardless, there is room up to 1097.00-1098.00 before buyers would start gaining traction.

The test of 1095.00 might suffice for resuming the decline. The no-bias environment began lapsing at 2:30, and back under its 1091.75 bias-down signal would indicate the decline had already resumed.

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