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No means no (bias). – If, Then… Market Timing

No means no (bias).

By Rod David | April 16, 2009 - 11:55 am

[pay]Sellers attempted trending down under 846’00 to twice test 844’00 where technicals diverged positively. The resulting bounce was back to yesterday’s close when the no-bias environment began lapsing at 11:30. Now 851’50 is being tested ahead of noon.

Trending during the noon hour is less predictable due to its noise. Entering the noon hour back around 848’00-850’00 would be similar to dropping anchor in choppy seas – ranging would be possible, but not any real progress.

Impending earnings news doesn’t prohibit trending, but it can inhibit it. Bias parameters will be published at noon, and another no-bias signal at 1:20 wouldn’t be surprising.

[/pay]

Posted in Bias-parameters, S&P