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Sellers marginalized? – If, Then… Market Timing

Sellers marginalized?

Afternoon rally gained traction.

The afternoon”s 2010.25 bias-up signal wasn”t probed uncontrollably during the no-bias environment. There was no overly-optimistic no-bias trending to retrace. 

In fact, a dip tested 2007.50. But it was rejected by surging 5 points to fresh highs into and out of the bias environment exit. That has extended up to almost 2020.00.

More important is that the final hour was entered above the bias environment”s high, after exiting the bias environment above the noon hour”s range. The rally gained traction for its effort.

Sellers may be marginalized for the day. Regardless, a reaction has room to 2015.00 before signaling the trend may be reversing down. Extending higher today or tomorrow would next target the 2023.00 area, and then 2029.50.