Post-open Review… Bottom’s up.

Extra dip delays ultimate bottoming pattern.

Pre-open selling had pierced the overnight Globex session’s initial 2370.50 low, touching this morning’s 2370.00 bias-down signal. I wanted it touched post-open, too — and preferably pierced by at least 1 tick —  before being confident it wouldn’t trigger.

The open did pierce it by 1 tick, and then snapped back up. But only momentarily ahead of a 5-point drop. Although not required, yesterday’s low was pierced by 3 ticks down to 2366.25.

There was news: a security incident at or near the London Bridge / subway station. Presumably, anxiousness had triggered the extra dip. At least, that’s what I presumed.

In fact, 2370.00 was touched just in time to invoke the grace period. “Late no-bias” triggered at 10:30, already having surged up to 2373.50. And that was exceeded momentarily by another point.

An offsetting test of the 2377.50 bias-up signal is in-play. A test of 2381.50 is also likely at some point, to whatever degree. More importantly, the bottoming template we’ve been tracking remains intact.