Post-open Review… Good to the last drop.

Congested open capitulates to sellers.

The 2101.00 bias-up signal was touched  twice before the open. The open’s reaction down pierced its 2098.25 pullback limit by 3 ticks. Recovering to retest 2101.00 never attracted new sponsorship to trigger bias-up.

Actually…

…still overlapping the signal at 10:15 AND at 10:30 triggered noN-bias. Not a bias-up putting into play its target. Not a no-bias putting into play an offsetting test of the bias-down signal. But noN-bias that has no predictive value.

That said…

…improving sentiment toward Brexit triggered a knee-jerk reaction down that tested the 2096.25 bias-down signal. Testing and retesting it has only overlapped it, while violating its bounce limit.

Back above 2098.25 would start to signal momentum reversing up. The plunge’s sponsorship is by definition weak-handed, its catalyst having been a headline. The plunge’s origin was congestion, a setup that is typically retraced, regardless of how that then resolves.

Meanwhile, another dip under 2096.25 would be credible for extending down, anyway. Its potential would be the 2091.25 bias-down target.