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Post-open Review… On the other foot. – If, Then… Market Timing

Post-open Review… On the other foot.

Friday’s impatient sellers had it coming.

es_061316_amThe bullish scenario didn’t just require probing under  Friday’s low. That was done overnight, touching this morning’s 2077.00 bias-down target. It still needed to be experienced intraday.

Even then, the open’s blip-down had reacted up so quickly that a re-retest was needed. And quickly, since it needed to be isolated to the opening 15 minutes of volatility.

It was.

Soon the 2082.00 bias-down signal was being probed on the way to filling the gap(s) back to Friday’s close at 2086.00-2087.25. Reacting down held above the 2082.00 bias-down signal long enough to avoid triggering it.

And that has since extended higher.

An offsetting test of the 2093.00 bias-up signal is in-play. Fresh post-open highs and positive territory are being probed to 2089.25 — after 10:15, which makes 2093.00 likely to become “unfinished business above” if not met this morning.

Having tested the 2077.00 bias-down target so near the open, an offsetting test of the 2098.75 bias-up target wouldn’t be surprising. It wouldn’t be in-play officially. Exiting the bias environment at 11:30 under 2082.00 would delay any unfinished business above for a new session low.