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Post-open Review… All biased-up and nowhere to go. – If, Then… Market Timing

Post-open Review… All biased-up and nowhere to go.

Bias-up target met, held.

Like the first overnight dip to 2457.50, the second dip was recovered to a higher high, greeting the open at 2465.00. Overnight choppiness has persisted post-open.

A couple of probes higher have reacted back down under the open. The second post-open probe pierced the 2466.75 bias-up target by 1 tick. Its reaction down attacked the 2461.00 bias-up signal to within 1 tick. This is a bias-up environment, whose target has been met.

Already having met and reacted down from the bias-up target, its resistance tends to hold through the morning. It’s not required. Meanwhile, the bias-up signal should define the morning’s lower-end if tested as support. Probing under it would be required to retrace.

So, post-open buyers quickly satisfied buying pressure and aren’t indicating they’ll gain traction for the effort. That’s similar to yesterday afternoon’s buyers. Neither setup prevents extending higher anyway, but not reliably, and the door remains open to launching another downleg.