Post-open Review… Fulfilling setups.

Reversal attempt fails, upside rules.

The open was greeted at the 2532.00 earlier Globex low. The Globex-flip setup was formed, and could only trigger or not trigger. A dip to 2526.50 was recovered halfway through the opening 15 minutes of volatility, missing an opportunity to suggest that bearish reinforcements were being attracted. Still overlapping 2532.00 at 9:45 was a missed opportunity to entrench a reversal down.

But momentum had not reversed up. Another dip tested the 2524.50 bias-down signal, and also recovered. Fresh post-open highs up to 2540.00 weren’t maintained in time to trigger the 2537.00 bias-up signal. Which the grace period was still testing, to trigger noN-bias.

Not no-bias which would require an offsetting test of the bias-down signal. Not bias-up requiring meeting its target. But noN-bias, which could fluctuate or trend regardless of the bias parameters.

Actually, having failed to reverse the momentum down, we had been discussing the likelihood for probing higher anyway. Friday’s session-long setup was still likely to probe or trend higher this morning. And the failed Globex-flip could be as bullish as it would have been bearish. But “no-bias trending” would have required retracing down to the bias-up signal, a noN-bias rally wouldn’t require retracing.

Currently, the 2551.75 overnight high is being attacked to within 1 point; it doesn’t require a retest. The bear market rally’s 2548.00-2555.00 target area is being met; it doesn’t require a thorough test. Back under 2543.00 would start to signal momentum reversing down. The rally is otherwise free to extend higher.