Post-open Review… The deepest rejection yet.

Post-open surge gets shut down, too.

The overnight rally had extended to probe yesterday afternoon’s 2432.75 high up to 2434.25. Both were above yesterday’s 2432.75 high. And all three reacted down.

Yesterday’s reaction down and the overnight pre-open reaction down measured about 4 points each. The post-open reaction down fell 7 points to 2426.50. And having held a test of the 2433.25 bias-up signal, an offsetting test of the 2425.75 bias-down signal was in-play.  It was probed by 3 ticks.

The pre-open and post-open choppiness is a compendium of reactions to ECB and Comey headlines. Their influence is likely  done. ECB members are at dinner. The Comey hearing has only just begun, but it is already over — all relevant revelations and reiterations are done.

There’s one more opportunity to reinstate the recovery being attempted by yesterday’s failed Pivot Reversal. If this morning’s no-bias environment exit isn’t yet attacking and then breaking either of the 2425.75-2433.25 bias signals, then this afternoon’s bias environment entry should. Anxiousness ahead of tonight’s headlines of Britain’s elections will try to prevent trending sooner, but expectations should be playing out soon after.