When is a bias-down not a bias-down?

…When it triggers ahead of expiration, while RSIs diverge positively. Lower lows are still possible, but if there’s any environment capable of interfering with a signal this is it.

[pay]The afternoon’s 1061’00 bias-down signal remained broken through 1:20 while S&Ps ranged narrowly around 1058’00. Buyers are marginalized until the bias-down environment starts lapsing after 2:30.

RSIs diverged positively at the lows, so the bias-down target isn’t so assured. This setup probably wouldn’t even have developed normally, if not for the influences of tomorrow’s fast-approaching expiration.

A bounce isn’t necessarily indicated, but RSIs might produce a one here. This being a bias-down environment, a bounce would require being retraced back down to its low. Regardless, the more likely scenario for the next hour is to range at the lows.

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