Post-open Review… That was the calm.

Post-open choppiness has wound the mechanism.

Gapping down more than 50 points doesn’t stop on a dime. This morning’s gap down quickly bounced sharply, from 1860.00 to 1881.00. But the 1881.00-1885.00 predictive range held through 9:45, and the balance of the morning has ranged choppily.

The new predictive range is 1865.00-1868.00. It’s getting quite the workout this  morning. Every leg has overlapped it or reacted sharply to piercing or attacking it. Now the bias environment is lapsing, and trending can resume.

Entering the noon hour under 1865.00 would be likely to trend in that direction. Next lower target area is 1853.00-1855.50. Any lower is probably a lot lower.

Back above 1875.00 instead could produce fresh session highs. But that upside should be limited to 1881.00-1885.00, and nothing short of 1992.00 would reduce the vulnerability to trending back down into the close.

UPDATE: There is now a chance that I will be away during the last hour for 30-45 minutes IN ADDITION to the previous windows. I list specifics in the next post.