Post-open Review… Everything AND the kitchen sink.

Nothing but selling pressure since the news. And targets met.

A blip-up to 2106.00 had preceded the Employment Situation report. Its reaction down hesitated at the 2095.50 bias-down signal to form a Descending Triangle. Its break down to 2091.25 reacted up to 2098.00 through the open.

And then it was back to business.

The 2088.00 bias-down target was exceeded through 10:15 to renew the bias-down signal. The renewed bias-down target is 2082.50.  And it was just met to within 1 tick.

Business done?

Possibly. After correcting the first reaction up by 61.8%, another bounce is now retesting 2088.00 as resistance. A signal that already triggered below it has yet to be confirmed. Extending higher would have room to test the 2095.50 bias-down signal during the bias-down environment.

That has been this week’s pattern — extending overnight drops post-open, and then recovering intraday. Today is a bit extreme, and the post-open series of lower lows and lower highs (i.e. downtrend) remains intact.

The question to be resolved is whether the Friday Factors of impending two-day illiquidity have exacerbated the initial selling beyond unsustainable levels, or if it will have an even greater effect as the weekend approaches.