Post-open review

Sellers stymied.

Extending the relentless overnight decline required breaking under its low at a steeper slope. Despite a 1-point blip-up from the 2111.75 open, the 2110.00 overnight low was soon probed by more than 1 point.

But the 2111.75 open was retested. And it wasn”t quite rejected after the 10:00 news, let alone by 10:15.

Neither bias signal was tested or triggered, and neither bias signal requires an offsetting test. Sellers didn”t maintain their aggression, but neither were they rejected. 

Sellers aren”t likely to launch a durable drop, but could still produce fresh lows, perhaps testing the 2107.25 bias-down signal. A rally has potential up to the 2115.25 bias-up signal. But without being likely to trend this morning at all, waiting patientialy to trade a trending attempt may be more productive.