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Post-open Review… Good to the last pop. – If, Then… Market Timing

Post-open Review… Good to the last pop.

Bias-up signal held, held on to.

es_082916_amDeceptively calm overnight narrow ranging spiked up from the 2169.75 open. Just recovering 2170.75-2171.50 through the opening 15 minutes of volatility had made the 2177.75 bias-up signal’s test likely. Surging through the opening 15 minutes of volatility had already come within 3 ticks of 2177.75.

Testing and retesting 2177.75 didn’t break it. But neither was it rejected, still being overlapped when the grace period lapsed at 10:30. Holding its test would have put into play an offsetting test of the 2163.50 bias-down signal, and triggering bias-up would have targeted 2183.00.

The pullback limit is being violated, and back under 2175.00 would target 2166.00. There is otherwise no bias requirement this morning.