Post-open review… Better late than never.

Verrry sloooow to resume the rally.

The pre-open surge may have been no more than a reaction to GE”s buyback announcement. Regardless, dipping into and out of the open reacted back down to 2084.50.

That”s back under yesterday”s 2087.00 high, so trending back up would have to be the product of new sponsorship. In fact, fresh highs are being probed now up to 2093.25. 

But the fresh high”s new sponsorship is only weak-handed, because the 2089.00 bias-up signal triggered “noN-bias” (being overlapped at 10:15, and at 10:30). A bias objective isn”t attracting price higher, and won”t inhibit reversing down.

Yesterday”s late breakout was sponsored by weak hands, too. So, the path need not be down, but extending higher can be choppy. If not for the weekend”s impending illiquidity, sellers might not be so patient. But reversing into negative territory will be unlikely if the bias environment”s exit at 11:30 isn”t already trying to break back under yesterday”s high.