Non-bias trending.

Late sell signal must gain traction, or else bigger bounce ahead.

[pay]As happens so often when it has happened in the morning, this afternoon’s bias timing window went into overtime. Its 1214.00 bias-down signal was touched within 3 minutes of 1:20, invoking the grace period.

1214.00 was still being tested at 1:30, so there is not an afternoon bias signal  – this is essentially a non-bias environment.

A bounce could have developed, but a sell signal under 1213.00 was triggered first. Its 1208.00 target was already met. Its retest down to 1206.25 is trying to hold.

Not being a “no-bias” environment, none of this drop need be retraced before extending down further. Exiting the bias environment after 2:30 under 1207.00–1208.00 would be likely to trend down. Recovering 1213.00-1214.00 could marginalize sellers until next week.

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