Post-open Review… Dry Cleaners might be better.

Range bound opening.

Piercing yesterday’s late 2873.50 high by 1 tick before this morning’s open was actually a delayed trending attempt. Overnight action had otherwise been contained, and fluctuating around unchanged. Delaying an overnight trending attempt until coming to within 60-90 minutes of the open tends to fail, and often reverses direction.

For essentially opening unchanged and within a sideways overnight range, post-open action has been as choppy and trendless as might be expected: Higher highs could have developed first, but didn’t. The opening bar touched the 2872.25 bias-up signal and dropped to 2867.00. Bouncing to 2871.00 reacted down lower to 2865.75, bouncing to 2871.00 again.

Having touched the bias-up signal before triggering no-bias, an offsetting test of its 2863.75 bias-down signal was put into play. Recovering the 2872.25 bias-up signal through 10:30 would have invalidated that, but the attempt has stopped 2 ticks short. Probing it this late would be “no-bias trending,” doomed to failure — but possibly not until having reached 2875.50.

Meanwhile, and inflection point at 2871.25 wasn’t touched until 10:30 instead of sooner, and isn’t yet overlapped by at least 3 ticks to be more than noise. Back under 2869.00 would start to signal the offsetting test of 2863.75 is underway.