Post-open Review… Eventually, down.

Very late surge proves too late to maintain.

In the Market Tour I described the potential paths higher for having recovered tests of both bias parameters overnight. The paths higher differed in whether the open would be greeted in positive territory.

Which it was not. It was already too late to expect the 2824.25 bias-up signal to trigger, if tested. Which it was not.

Recovering only to Friday’s 2817.50 cash session close, and then surging just several minutes before the open, only attacked 2822.00. That stretched the rubber band enough to probe the 2815.00 bias-down signal to 2810.50. But 2815.00 was touched in time to invoke the grace period.

2815.00 was recovered by a single tick at 10:30 to trigger late no-bias. Another tick lower would have triggered noN-bias, not bias-down. Nevertheless, being on the borderline, dipping back under 2813.00 is getting a benefit of the doubt. In fact, its 2809.00 bias-down target was just touched.

Extending lower would next target 2801.50. Having touched the bias-down target after a very choppy open, back above 2815.75 would start to signal momentum reversing up.