Who needs bias signals, when we’ve got bias targets?

It’s a rhetorical questions.

[pay]Sort of like this morning’s late bias signal, this afternoon’s noN-bias signal left doors open and questions unanswered. Nothing particular was in-play. At least, not a bias.

There were still patterns, and signals. And they triggered.

This afternoon’s last buy signal to trigger at 1852.75 was in reaction to the FOMC Minutes release. And it surged through the 1858.25 bias-up target.

That surge extended to test the 1860.00-1861.00 target I had noted probably would be visited if there were a bias-up. It was also exceeded up to 1864.00.

Persistently overbought 3-minute RSI has finally ended, and 1-minute RSI has diverged negatively. None of which is a sell signal. The highest calculable sell signal is 1861.50, targeting 1855.75.

Triggering the sell signal, or not, the pattern is vulnerable to a short-squeeze into the close. That’s more difficult to trust than at least a pullback to 1855.75 and 1853.00 or lower.

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