Bad time for good timing

S&P 500: Fresh highs wait, but still lack credibility.


Afternoon bias


MON afternoon signal (triggered at 1:20 ET) SPX ES
Bias-up: above 1956.00  1955.00
…would target 1961.75  1960.50
Bias-down: under 1950.75  1949.50
…would target 1943.75  1942.25
Signal status: waiting for trigger FAQ
  • At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
  • Not triggering either bias signal at 1:20 would be “no-bias,” and the bias signals should define the morning’s range. – A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
  • Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal. – “Late” signals don’t require testing the opposite bias signal, but it’s still likely.

Still testing the bias signal at 1:30 after invoking the grace period would trigger “non-bias,” with no bias influence.


Ed Note: Each trading day traders can listen to live, streaming squawk box commentary on coming directly from the S&P trading pits in Chicago.

About the Author
Rod David

Rod David develops analytical techniques that are designed to efficiently identify targets and turning points for any liquid stock or market in any time frame. He primarily analyzes S&Ps, generating several round-turn candidates daily. Rod publishes "Trading Plan" and more each session at the blog

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