When is a bias-up not a bias-up…

…When it only keeps away sellers.

[pay]The 1083.25 bias-up signal was recovered just in time to trigger. New session highs through the 1:20 timing window touched 1084.75. A dip into 1:30 didn’t touch the bias-up signal, but it came within 1 tick.

So, this afternoon’s bias-up environment is just that. Which doesn’t necessarily launch a rally. The most bullish consequence might be to prevent a downleg from gaining traction. Regardless, it’s the only buy signal, since all others were fulfilled this morning. And the 1082.00-1083.00 bounce potential is still pretty strong resistance.

Back under 1081.25 again could open another window for sellers. But probably not until much nearer to 2:30 when the bias environment starts lapsing. By the same token, ticking higher into that same window would be credible for extending the bounce – perhaps into the close.

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