Renewed bias-down.

[pay]The spike-up’s reaction didn’t dip the extra half-point to provide a false breakout down to ESu 1268’50 before entering long. Any possible false breakout might have been the brief strength up to 1272’50, but it wasn’t very breakout-like and kept me looking.

The cash session open dived to new lows that so reached 1253’00, bouncing a couple of time back up to the 1258’50 bias-down target as resistance. Since the 10:15 timing window was exited under the target, it essentially triggered a new bias-down signal. This means the trend remains down and that bounces should fail.

Patterns that developed during the open’s decline have created bounce potential up to 1260’00-1261’00.  If/Once tested, then back under 1258’50 by 1-2 ticks would signal momentum reversing back down, confirmed under 1255’25 and next targeting 1242’00.

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