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Post-open Review… Chop ahead. – If, Then… Market Timing

Post-open Review… Chop ahead.

Enough fluctuation to suggest wide swings.

The probe above Friday’s 2425.00 high was isolated to the overnight. Only now is 2425.00 even being attacked as resistance, after the open dipped to 2419.25. The setup suggests that buyers are weak-handed and that the pattern will resolve down.

But the open’s tests of Friday’s last relative lows at 2421.50-2422.00 held as support through 9:45. That’s not necessarily bullish, but it robs sellers of their traction. Which explains the post-open bounce attacking 2425.00.

No 3 of the first hour’s 15-minute checkpoints overlapped the same relevant level. A dry cleaners morning isn’t likely. That doesn’t make trending any likelier — especially since neither bias signal was touched. But tests of either 2417.00 or 2426.50 would likely hold, and reverse back into the range. Until the bias environment starts lapsing, when trending become likelier.