Short Term Bias Is A Retrace Up

10:21am EST: Sentiment turns a little sour today, so up the market goes: still in whipsaw territory but leaning towards a mini-top on a retrace up to potentially create a wave down from there. SP-500 is likely closing a lower gap first.

Original post-
Overnight the triangle center was tested in ES and at pre-open ES is back at the 4355 zone which is about where cash closed yesterday. However- there was a small turn signal up in volatility at the close which puts the bias back into the short-term topping mode. There could have been a wave [i] down to the center of the triangle in ES and now a retrace back up may be underway. This also fits with a projection earlier that explored the potential for a retest of the lows before a larger turn signal down in volatility transpires [market goes up later]. A triangle break up failure looks more likely now as ES pierced into the triangle instead of bouncing immediately at the trend line even though cash may well do that.

Daily Summation Index is continuing upwards but below it's typical highs and may well be seeking the top of a small degree retrace up in the market [or something higher]. That is where the bias comes in currently. Likely the market will settle into a direction soon at least in the short-term. It was mentioned yesterday that many blogger analysts were quickly getting more optimistic but without the presentation of multiple criteria using historically proven indicators of more than a couple of formulations in support of it. A terminal high may well be at higher market prices overall yet to come but the situation is far from certain currently. In this whipsaw environment, multiple criteria supported turn signals will likely be key.

The bots will flag here when they see a top. (1/25/20, 2/20/20)
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Chart from Thurs 10/7/21: