Post-open review… Doubt.
And it”s a big doubt, whether buyers can be productive this morning.
The open”s test of the 2107.50 preliminary signal reacted down under 2104.25 to trigger its sell signal. The 2097.50 bias-down signal was attacked to within 3 ticks. Both 1-minute and 3-minute RSIs became oversold.
Not exceeding 2105.75 through 10:30 would trigger late no-bias, putting into play a test of the 2097.50 bias-down signal. This would satisfy the required eventual retest of oversold RSIs at the low.
Reacting up again touched the 2105.75 bias-up signal within 3 minutes of 10:15 to invoke the grace period. Recovering it through 10:30 would trigger late bias-up, putting into play its 2110.50 bias-up target.
Triggering late bias-up could be productive, but probably not durable. Just trending above the bias-up signal this morning in a no-bias environment wouldn”t be much different — the opportunity to reject yesterday”s bearish setup has passed, and any bounces are likely only refueling sellers for a deeper drop through tomorrow morning.
