Post-open review… Climing a greased pole.

Post-open surge starts too low to cover its hurdle.

Friday”s buyers gained no traction for their efforts. So, extending higher this morning required immediately extending through Friday”s highs, if not actually gapping up to and through them.

But this morning”s 2110.00 opening print was under Friday”s 2111.00 cash session close. It did surge quickly, albeit not immediately, to pierce the 2112.00 bias-up signal. That was also a buy signal, but it was never exceeded higher than its first three minutes. Three times.

The first probe above 2112.00 reacted down to 2109.50, the second reacted down a little deeper, and the third probe up to 2113.50 reacted down to 2105.50.

That last reaction down came after the bias signal had invoked the grace period through 10:30. Having avoided bias-up, an offsetting test of the 2104.25 bias-down signal is in-play. Probing it down to 2101.50-2102.50 wouldn”t be surprising.

Currently, a bounce is attacking 2111.00. Back under 2108.50 would start to signal another downleg in-play, presumably to probe under overnight lows. Entering the noon hour above 2112.00 would instead suggest that sellers are marginalized for the day.