Post-open review

Buyers still good to the last drop.

The pre-open drop ultimately extended to pierce Friday”s 2100.75 low by 1 tick. The 2101.50 bias-down signal was already being recovered into the opening, which quickly extended to touch the 2104.25 preliminary level.

2104.25”s reaction down was deep enough to identify a shallower buy signal, which extended to 2111.75.

The 2111.00 bias-up signal was overlapped within 3 minutes of the 10:15 bias timing window to invoke the 15-minute grace period through 10:30. A blip-up at 10:30 triggered “late bias-up.”

Had 2111.00 still been overlapped at 10:30, this morning would be “noN-bias” without any bias requirement. A reaction down under 2111.00 at 10:31 was 1 minute too late. This is still a late bias-up. Not being triggered timely, its target won”t become “unfinished business above” if left outstanding this morning.

Presumably, the topping scenario remains on-track for revising last week”s high, and higher, before launching a new downleg. Regardless, no sell signal is calculable without a new distributive pattern forming.