Trying to avoid becoming “the late” bias-up.

The reaper is bearish.

[pay]The 1287.75 bias-up signal was touched within 3 minutes of the 1:20 timing window. This invoked the 10-minute grace period. Then 1287.75 was recovered through 1:30 to trigger bias-up.

Ranging since then has probed under 1287.75 by 2 ticks, bouncing 2 points back up to 1289.50.

What is remarkable is that this morning’s 1287.75 bias-up target is still being tested two timing windows later. Probing fresh highs is “distribution” – more plateauing – if 1287.75 won’t let go.

Bias-up meanwhile does get a benefit of the doubt, until proved otherwise, making 1287.75 sort of a stop to being long. Triggering the 1287.75 stop coming out of the bias environment after 2:30 would be likely to retrace at least all of today’s rally.

[/pay]