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The search for buyers resumes. – If, Then… Market Timing

The search for buyers resumes.

Sellers exploiting the barely fulfilled bias parameter.

Holding tests of this morning”s 2104.25 bias-down signal through 10:15 put into play an offsetting test of the 2111.00 bias-up signal. It was attacked to within 3 ticks. That”s close enough with any target to prevent it from becoming “unfinished business above” if left outstanding.

And 2111.00 has been left outstanding. Its reaction down was probing under 2104.25 as the bias environment began lapsing at 11:30. That has extended down to 2100.50.

Other unfinished business above will have to wait. Both 1-minute and 3-minute RSIs are oversold at the low, so a bounce would likely fail. It”s too late to trigger bias-down, or to require testing its 2099.25 target, but that”s the next lower attraction.

The next opportunity for reinstating the bullish scenario is to exit the noon hour back above any higher prior lows, like 2103.00, 2104.25 and 2105.50. Otherwise, not holding 2099.25 could extend down to 2077.00.