Post-open review

Expiration craziness upsets timing, but still sticks to its levels.

Almost oblivious to the overnight probes into negative territory, the open surged from its 1983.00 bias-down signal to test 1994.00. But gapping open from under yesterday”s lows and overnight highs was doomed to failure.

At least, for awhile.

Its reaction attacked 1981.00 while also testing the 1983.00 bias-down signal within 3 minutes of the bias timing window. That invoked the grace period through 10:30, which ultimately avoided triggering bias-down.

Also at 10:30? The 1989.75 bias-up signal was being recovered.

It”s too late to trigger bias-up. No-bias is invalidated. For the balance of this morning, bias levels may be relevant, but their tests aren”t predictive. And, yes, this is a very unusual situation. But it shall pass. Beginning at about 11:30.

At least, for awhile.

Meanwhile, the 1995.50 bias-up target was tested to within 1 tick. Exiting the bias environment through 11:30-noon back under its 1989.75 bias-up signal would undermine the recovery”s sponsorship. Otherwise, extending through 1996.25 would signal a bigger bounce underway.