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Post-open Review… Discomfort zone. – If, Then… Market Timing

Post-open Review… Discomfort zone.

Pre-open slide dips back under Friday’s highs.

Double Tops want to be retested. Overnight patterns must establish their influence of intraday action during the opening 15 minutes. So, retesting the pre-open Double Top at 2071.50 required maintaining the overnight high’s orbit.

Reacting down pre-open from the overnight Double Top had room down to 2065.00 before breaking free from from the overnight high’s orbit. The open was 3 ticks lower, and extended relentlessly to 2061.00.

That exceeds the overnight high’s attraction. I’m giving a recovery some benefit of the doubt anyway, so long as fresh post-open lows are probed first. This being a no-bias environment, a test of its 2059.50 bias-down signal should define the range’s lower-end, even if probed.

Exiting the bias environment at 11:30 would suggest the overnight highs will be retested without first probing fresh post-open lows. Buy signals probably won’t be considered without that much strength or else fulfilling fresh lows.