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Post-open Review… Aggressively bullish, indeed. – If, Then… Market Timing

Post-open Review… Aggressively bullish, indeed.

Post-open action wastes little time before surging. And surging.

es_041816_amThe bullish WedEX’s influence Friday afternoon was modest. It reversed a probe of fresh lows to recover at fresh afternoon highs. And having been modestly influential Friday afternoon, its influence this morning was likely to be aggressive.

In fact, the 2066.75 opening print reacted down only 6 ticks during the next minute, before reversing up sharply. The 2071.75 bias-up signal was being tested by 9:45. Surging into and out of 10:00 had extended to 2079.00. That has extended to 2081.25.

Regardless of its starting point being a gap down, 14 points in a half-hour is aggressive and bullish. But it’s not yet morning-long, which is still under WedEX’s influence.

Meanwhile, a new challenge has appeared. The open tested the 2067.50 bias-down target and recovered the 2071.75 bias-down signal. Just holding the bias signal’s test through 10:15 would put into play an offsetting test of the other bias signal. Recovering a bias signal and its target, would put into play tests of both of the other bias parameters.

But the consequences for ineffectual pessimism are neutralized already. Testing this morning’s 2078.50 bias-up signal is now the focus. And at 10:15 it was still being overlapped to invoke the grace period.

So, the 2085.75 bias-up target is in-play because the 2078.50 bias-up signal was recovered through 10:30. Its test at least attack is likely anyway, with influence from the bullish WedEX. Only dipping back under 2076.25 would raise any suspicion otherwise.