Post-open Review… Dry Cleaners high?

Little or no interest in rallying.

Global markets weren’t eager to pick up Friday afternoon’s ES rally to new highs. And ES hasn’t been encouraged by its own rally effort. The opening 15 minutes of volatility fluctuated choppily at or under 2456.50 unchanged.

A nearly 4-point surge from attacking the 2454.00 overnight low has gradually improved to touch this morning’s 2459.00 bias-up signal. But it’s too late to trigger, and even too late to invoke the grace period. This is a “no-bias” environment.

Exceeding 2459.00 through 10:30 would have invalidated the 10:15 no-bias signal. Instead, Exceeding 2459.00 now would be “no-bias trending” that is doomed to failure. And having stopped several times pessimistically short of 2459.00 does start to be pessimism, which is potentially bullish from a contrarian standpoint. The limp sponsorship is winning that battle.

Perhaps that’s why the pessimism isn’t being exploited. Meanwhile, not having touched 2459.00 by 10:15 doesn’t have the offsetting requirement of testing the 2453.50 bias-down signal. But there’s room down to it as noise within the range during this morning’s window.