Post-open review

Sellers stilled, buyers stalled.

The extra dip I had described in the First Trade blog post was provided soon afterward, by a blip-down that barely touched the 2039.00 bias-down target as support.

Recovering both the bias-down target AND the bias-down signal could equate to a buy signal, since it would put into play offsetting tests of both bias-up parameters.

But the bias-down target was tested only pre-open. At least the 2044.00 bias-down signal held its test through 10:15 to trigger “no-bias.” That puts into play an offsetting test of the 2055.75 bias-up signal. Nevertheless, I would expect the 2062.25 bias-up target”s test, too.

First things, first. Extending through the open to 2051.50 has been retraced back down to 2044.00. It”s too late to trigger bias-down, and now it”s too late to invalidate the no-bias. The burden of proof remains on sellers.

Having said that, I would consider selling a fresh low in case a more substantial decline is developing anyway.