Post-open Review… Effective ineffectual pessimism.

Snuck in another dip before finally resolving up.

A credible post-open downleg would begin immediately. That was its only requirement. Starting quickly was worth already damaging the chart to signal its strength.

So, gapping open in positive territory, and then blipping-up momentarily to 2137.25, disqualified the slow drift back down to 2133.00 from being credible. It would have to be more productive and damaging first. Meanwhile, its sponsorship was assumed to be weak-handed.

Two problems, minor, but problems.

First, the slow drift back down to 2133.00 probed it by 3 ticks. Never any deeper than its first 3 minutes, a problem that could be overcome easily. Which it was, by bouncing back above 2134.50 and extending higher.

The second problem was no-bias had triggered, AFTER testing the 2136.50 bias-up signal. That had put into play an offsetting test of the 2130.50 bias-down signal. And the bounce back above 2134.50 didn’t extend quickly enough to invoke the grace period.

That required a rare invalidation, by recovering the 2136.50 bias-up signal through 10:30. Not still overlapping it then, but exceeding it at 10:30 as cleanly as it had failed to trigger at 10:15. Which happened.

Problem(s) solved.

This morning’s 2141.50 bias-up target didn’t require a test, but it has been attacked to within 1 tick. That was also the likely consequence to yesterday’s mid-day “ineffectual pessimism,” regardless of its deeper drop. Maintaining the upside momentum would next target 2145.50 and 2150.00. At least one of which is likelier than launching new downleg, since overbought RSIs at 2141.25 require a retest.