Post-open Review… Holding pattern.

Not extending higher, but not yet correcting.

Yesterday’s late surge originated too late to be sponsored by strong hands. Never mind, gapping up today could have indicated reinforcements had arrived overnight. The delay of not gapping up could have been compensated by the open trending up relentlessly to probe overnight highs.

Triggering the bias-up was the last opportunity for offsetting the other shortcomings. But the 2103.00 bias-up signal held its test. Twice.

This is a no-bias environment, putting into play an offsetting test of the 2095.50 bias-down signal. More so, this confirms the bearish influences we began discussing during yesterday’s Wrap before the close. All interim buying pressure is trapped. The actual pullback could test 2090.00, or even probe temporarily under 2088.00.

Unless the bias environment were to begin lapsing at 11:30 above its 2103.00 bias-up signal, the bearish pressure can persist into the afternoon.