Post-open review… Found a floor?

Thanks to probing another fresh low before the open, we discovered something during the Market Tour that wasn”t known before publishing Friday Trade in the blog. That new information wasn”t really new — it is yesterday afternoon”s 2088.75 bias-down target. And the new pre-open low made 2088.75 influential and predictive if tested during the open. 

Firming into the open did extend to test 2088.75. It held. It not only held, but its test quickly reversed price back down to the 2083.50 area, and then soon down to a test of the 2079.50 bias-down signal.

The test held through 10:15 to trigger “no-bias.” And having held a test of the bias-down signal, an offsetting test of the 2091.00 bias-up signal is in-play.

There”s no timing element to that. Yesterday morning”s opening dip earned the same .But this morning”s signal is already productive (extending higher than at 10:15. Invalidating its target would require exiting the bias environment at 11:30 under 1179.50.

Back above 2083.50  would put the upside back into play. Otherwise, the 2091.00 will become “unfinished business above.”