While waiting for the bias-up bounce…

[pay]The bias-up signal still hasn’t produced any follow-through, and instead S&Ps just probed a new session low at ESm 1411’75. Not much of a probe actually, only by 1 tick, but that’s 2 ticks closer to the bias-down signal.

Any retest of the low (e.g. to the 1411’25 bias-down signal) while MACD & RSI diverge positively would set-up a low. The bounce would be triggered above 1413’00 and targeting 1417’00-1418’00. The low’s retest could develop from 1414’75, so its test could shorted by aggressive traders using a stop above the 1415’50 bias-up signal.[/pay]