S&P 500 Intraday Bias, 10:05 AM

Negative, suggesting sell the rallies intraday.

S&P 500 Intraday Bias, 10:00 AM

Positive, suggesting buy the dips intraday.

Is ES 1175 a buy?

Things happen so quickly in this market. The drop from 1230 to 1175 over a two day span is a drop equivalent to the previous drop from 1190 to 1135. Moreover, 1175, hit today, fills a gap exactly. I have neither the courage, nor the preparation to buy, but I feel that this is worth pointing out. If a base forms around 1175 (on ES), that would build courage.

S&P 500 Intraday Bias, 10:00 AM

Negative, suggesting weakness will continue for the remainder of the trading session.

Update

Added: prices shot upward with the positive surprise from 10 AM's economic news. If the market gives up these gains today, I will presume that a new swing downward is beginning. If strength continues, I reaffirm my 1250-1260 target.

S&P 500 Intraday Bias, 10:00 AM

Negative, suggesting weakness will continue for the remainder of the day. I disagree, and believe today will close up.