Still probing the bias-down target.

[pay]The cash session’s open probed briefly under the ESu 1278’00 bias-down target, which pretty much held as support through 10:15. A lower low was probed after 10:30, too inappropriate to rely upon extending down to a lower low at 1274’50 (there’s no signal otherwise, but this one isn’t clear). Regardless, this morning is a bias-down environment.

Back above 1278’00 coming out of the bias-down environment at 11:30 would be bullish for a recovery into positive territory. Having gapped down from yesterday’s rally, a close in positive territory could be bullish. But, in-line with the pullback scenario described in today’s Trading Plan, an intraday probe of positive territory that reverses to close negative would be bearish.

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