Post-open Review… Laurel-resting gone amok.

Session-long decline taking an early break, or broken?

Gapping down under yesterday afternoon’s 1891.75 bias environment low — and then maintaining the gap down through the opening 15 minutes of volatility to test 1883.00 — has triggered a “session-long decline” setup. Every timing window but one should probe under its prior timing window’s low.

Perhaps that one counter-trend timing window is this morning’s bias environment. It has only rallied, from testing 1883.00 to attack 1906.00. Now, every remaining timing window should probe under its prior timing window’s low. That would suggest a big noon hour drop.

Otherwise, perhaps the session-long decline has inverted. Only one opportunity remains to signal its inversion: Exiting the bias environment back above the 1891.75 level that created it. It was part of a consolidation up to 1898.50, so we’ll give the setup a benefit of the doubt if that range is retraced by noon, and then soon broken.

Inverting the setup would require every remaining timing window to probe above its prior timing window’s high. Otherwise, fresh session lows are likely before the close.