Stop digging.

Bias objective met, with plenty of recovery time available.

The question is whether the market will exploit that recovery time. It”s trying.

An offsetting test of this morning”s 2088.00 bias-down signal was put into play by holding a test of the 2098.25 bias-up signal. RSIs improved into testing and retesting it. Its 5-point reaction up is now attacking 2094.00.

And the afternoon”s bias environment is now lapsing.

The bias environment exit would at least signal downward momentum had lapsed by retracing more than 61.8% of the last downleg. That would be back above 2092.00, which is now being probed by more than 1 point. 

Entering the final hour above the last relative high could trigger a short-squeeze — that would be above 2094.50.

Today”s post-close earnings are more high-profile than influential (YHOO). They”re unlikely to inhibit rallying. Just getting back through 2095.25 at any time should be unable to resume declining.