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Post-open Review… First impressions can be deceiving. – If, Then… Market Timing

Post-open Review… First impressions can be deceiving.

Hovering in positive territory isn’t necessarily strength.

The pre-open slide from 2089.25 probed negative territory after the open. But only slightly, and only briefly, basically testing 2077.50 support. Its reaction up tested the 2082.75 bias-up signal, probing it by 1 point. Twice.

But the hesitant selling and the repeated bouncing matter less than price action at a relevant timing window.

At 10:15 the bias-up signal had held its test. This is a no-bias environment. And since a fresh low printed after 10:15, invalidating the no-bias signal requires exiting the bias environment above the pre-10:15 2083.75 high. Meanwhile, an offsetting test of the 2072.00 bias-down signal is in-play. Although not required, I would expect that to visit 2068.00, too.