noN-bias.

No timely resolution to the bias-up signal’s test… Also, special note at the bottom.

[pay]Bias-up doesn’t always trend straight up. I wish. But the path can take dramatic detours.

This morning’s bias-up environment made any interim dip likely to recover, and this morning’s detour was not shallow. In fact, a productive sell signal was triggered under 1754.50 on the way down to retesting the open’s 1752.25 low.

Not recovering this morning’s 1755.00 bias-up signal before noon would have invalidated the bias-up, and not required extending any higher. It was recovered, and extended higher to 1759.00.

Now this afternoon’s 1758.00 bias-up signal is in question. It was tested within 3 minutes of 1:20 to invoke the 10-minute grace period. But it was still being tested at 1:30 to avoid triggering either way. This is not a bias-up environment, nor is it a no-bias. This is a noN-bias environment.

There is no requirement to test the opposing bias signal or the bias-up target. But this morning’s 1760.25 bias-up target remains outstanding. As does the 1762.25 overnight high’s “new Globex trend extreme” that requires being retested intraday, often the same day.

Considering this morning’s near-death experience, I continue giving the rally a benefit of the doubt. But also considering this morning’s near-death experience, I continue to view this particular choppiness as signaling that a significant peak is nearing.

SPECIAL NOTE: Due to travel, I will be unavailable tomorrow morning for a Market Tour. There will be no Market Tour on Tuesday morning. I anticipate being present at the open. Thank you!

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