Post-open review

A funny thing happened on the way to new highs…

Hours and hours of choppy pre-open ranging was centered around this morning”s 2087.50 bias-up signal. An unannounced headline threw cold water on the already cold, wet Grexit issue, triggering a quick dip to 2084.25.

So, the cash session open suddenly found itself consolidating under the bias-up signal it had been clinging to just minutes earlier.

Resolving up to a fresh high at 2090.00 held up into the 10:00 econ report, and then resolved back down to 2086.00. All of which was essentially still ranging around the 2087.50 bias-up signal.

In fact, the 15-minute grace period triggered at 10:15. But new highs were being probed into 10:30. This is a late bias-up environment, and its 2092.75 bias-up target is in-play.

Despite the preponderance of bullish setups, back under 2087.50 would make probing fresh post-open lows likely, regardless of the resolution.