Will bias-up target be rejected, or extended?

Tick, tock…

[pay]The 1333.50 bias-up target was never put into play because the 1328.50 bias-up signal did not trigger. It was recovered in time only to invalidate the no-bias. That made at least the 1332.00 opening high’s retest likely.

Exiting the bias environment after 11:30 above the 1333.50 bias-up target could be bullish. Until then, buying pressure is being expended when buyers can’t otherwise gain traction for their effort.

RSIs diverged negatively into 1333.50‘s retest, which is pushing back down under the 1332.00 opening high. Recovering it into the noon hour could marginalize sellers for the balance of the day. Otherwise, the next opportunity to reverse down would be back under 1330.00.

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