The challenge of a no-bias afternoon.

[pay]The 818’75 bias-down signal was touched during the noon hour but didn’t break. Only 1-minute MACD diverged positively there, but all other technicals made higher lows while price made its new low. This produced a bounce to within 1 point of the 825’50 bias-up signal.

The 825’50 bias-up signal’s test is likely because the bias-down signal was touched before signaling no-bias. Back under 821’25 first would undermine this likelihood in favor of the session-long decline signaled by the open’s gap under 828’50.

It should be noted the this morning’s 821’50 bias-down target was met. Also, the noon hour was both entered and exited while recovering from probes under the bias-down target. Be prepared if a bounce gains traction or if a retest of the low holds.

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