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Post-open review… Ho-hum, indeed. – If, Then… Market Timing

Post-open review… Ho-hum, indeed.

Overnight plunge recovers into positive territory. Momentarily, at least.

The pre-open stabilization around this morning”s 2095.25 bias-down signal did not require resolving in one direction or the other. But it did suggest that a resolution would be early and aggressive.

In fact, the open momentarily pierced back under 2095.25 then reversed up sharply to 2099.25. News at 9:45 was absorbed on the way to 2103.50.

That”s within 2 ticks of this morning”s 2104.00 bias-up signal. Its test is the consequence of having held a test of the bias-down signal. Just coming within 3 ticks disallows it from becoming “unfinished business above” if left outstanding.

Having said that, new highs remain likely so long as sellers don”t gain traction. And sellers just tried overnight to gain traction and failed.

Sellers are trying to gain traction again. The reaction down from 2103.50 fell to 2097.50. A blip-down touched 2096.25. Back above 2099.00 would signal another attack underway on 2104.00, and higher. Meanwhile, there is no active sell signal.