Post-open Review… Digging in, instead of just digging.

PROGRAMMING NOTE: I’m away from screens for today’s last half-hour. Market Wrap will be held 30 minutes early.

A different crowd showed up at the open. The 2791.00 overnight low had been retraced already to attack 2799.00. Opening at 2797.50 immediately blipped down, but only blipped down. Soon, the pre-open retracement was resuming, and at a steeper slope.

2801.50 certainly was not isolated. It wasn’t even touched during the opening 15 minutes of volatility. But it was recovered on the way up to the 2807.50 bias-down signal. Touching it in time to invoke the grace period then extended to 2810.50 triggering “late no-bias.” That’s now being probed up to 2812.50.

Offsetting tests of both bias-up parameters is in-play. Likely, but not a requirement. Even if required, not assured of avoiding an interim corrective dip. Especially since testing 2801.50 was isolated not to the overnight, and not to the opening 15 minutes of volatility but only to the first half-hour. That’s not optimal, so this recovery attempt is vulnerable.

Back under 2707.50 would start to signal a retest of 2801.50 underway. Meanwhile, testing the 2815.50 bias-up signal only 3 points higher would neutralize its attraction.