No-bias trending. And trending, and trending…

[pay]A long-entry signal required S&Ps to do more work down in the low 1290‘s since a No-bias signal had triggered. The timing didn’t prevent the earlier gains from extending higher to the 1306’00 bias-up target.

The no-bias rally still requires a retracement back to its 1296’00 origin, signaled under 1302’00.The 1298’00 bias-up signal would be likely to offer some support on the way down. And the next lower target would be this morning’s original 1293’00 long-entry parameter.

There is no requirement to trend higher in this pattern, but not reversing down by tomorrow’s open would make any decline very unlikely before Wednesday afternoon – including the no-bias rally’s retracement.

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