Post-open Review… Bearish WedEX isn’t dead.

Choppy open stuck in negative territory.

I had suggested this morning’s worst-case scenario would be to honor both the bullish Isolation setup and the bearish WedEX influence by only ranging narrowly through the morning. Nope. It’s the bearish WedEX influence that is all but destroying the bullish Isolation setup, which being stuck in negative territory.

The bearish WedEX has absorbed a pre-open bounce to 2802.50 which had tried to trigger the Ascending Triangle that had formed. Also absorbed is the post-open bounce to 2803.50. Both were reversed to test this morning’s 2798.00 bias-down signal.

The first dip to the bias-down signal was in time to trigger it above 2803.50, but it held. The second test was in time to invalidate it, but it held again. And the second test came AFTER having triggered no-bias, which puts into play an offsetting test of its 2806.50 bias-up signal. Now a reaction up is testing 2801.00.

So, ranging narrowly this morning is still not off the table. Ranging narrowly, or choppily, but only briefly in either direction. Whether or not bearish WedEX is more influential Friday’s afternoon, its influence still delays a recovery window. And it keeps open the door to fresh lows.