Post-open review

The 2100.00 opening print gapped up 4-1/2 points from yesterday”s close, and began sliding immediately. The gap back to yesterday”s close was filled at the 2096.00 low. 

Its reaction up was overlapping the 2101.75 bias-up signal at 10:15, which invoked the 15-minute grace period. But rather than resolve the test, 2101.75 was being overlapped at 10:30.

This is a noN-bias environment. It is not a bias-up environment, which would have put into play the bias-up target. It is not a no-bias environment, which would have put into play an offsetting test of the bias-down signal. It is a noN-bias environment, which is not influenced by any bias parameter.

Gapping up is the only credible start to retesting last week”s highs. But the gap up was too shallow to require reject yesterday”s break, which would actually require testing last week”s highs. But until a sell signal or distributive pattern were formed and triggered, I”m giving the upside a benefit of the doubt.