Post-open Review… Early to rise, early to bed.

Early surge meets, holds and rejects resistance.

Post-open weakness had room down to 2753.25 while still being likely to recover to fresh highs. Post-open weakness only touched this morning’s 2757.00 bias-up signal as support, which was deep enough for a buy signal at 2760.00. It triggered quickly and soon extended to fresh highs.

Fresh highs that pierced this morning’s 2766.50 bias-up target by 3 errant ticks. And then reversed down, sharply.

The 2757.00 bias-up signal was overlapped just in-time to invoke the grace period, which triggered late no-bias. Having tested both bias-up parameters, offsetting tests of both bias-down parameters is in-play. So far, that has resulted in a test of 2753.25, which is reacting up sharply.

Is the bias signal’s lateness more relevant than its rejection of both bias-up parameters? Back above 2759.00 would start to signal yes, targeting at least 2764.25. Having at least touched 2759.00, back under 2755.00 would signal the bounce had failed.

A bias signal can be undermined by triggering late. So far as this morning, exiting the bias environment under its 2757.00 bias-up signal would confirm the offsetting test of its 2738.00 and 2726.50 bias-down parameters remains in-play.