Post-open Review… Hope sprung.
Maintaining does not equate to extending.
So, is the Isolation setup still in-play? Yes. Is it any more or less likely to be fulfilled. Less.
Gapping up was maintained through the opening 15 minutes of volatility, but it didn’t extend higher. An initially wide range between 2714-2723 narrowed gradually and slightly through the open, and through the 10:15 bias timing window. Every leg overlapped the 2721.00 bias-up target, but never with any complexity that would qualify as chipping away at resistance.
In other words, the market seems reluctant to rally. But it hasn’t yet collapsed in recognition.
This is a bias-up environment whose target is met and held. The likelihood continues to be against rallying. The bias-up environment could test its 2712.00 bias-up signal as support — it was just attacked to within 3 ticks. Breaking under 2712.00 when the bias environment is lapsing at 11:30 or within 10-15 minutes would be credible for extending down. Breaking under 2701.50 would likely be only a formality. Meanwhile, it’s still a bias-up environment, so trending up is still possible. Exiting the bias environment above 2721.00 would target a retest of yesterday’s 2731.00 high.
