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Post-open review – If, Then… Market Timing

Post-open review

Just enough buying pressure to hold-off sellers.

The recovery from overnight lows had attacked 2100.00 before the open. Fresh highs through the open up to 2101.75 prevented the decline from resuming immediately, which made the decline less likely to resume, at all.

The fresh highs soon extended to 2106.00, further undermining sellers. Higher highs were printing at 10:15, cleanly triggering the 2104.50 bias-up signal. 

2104.50 is still being tested while trying to hold above 2103.00. Back under 2102.00 would start to suggest the bias-up may be invalidated through 11:30. Meanwhile, the 2110.25 bias-up target is in-play.

Probing fresh highs this morning would still be vulnerable to reversing back into the range, if not also back under last night”s lows. But the bias-up otherwise remains in-play.