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Post-open Review… Not so fast. – If, Then… Market Timing

Post-open Review… Not so fast.

Post-open dip fills gap.

The overnight recovery had resumed pre-to test tested the 2568.25 bias-up signal by 3 ticks. That was quickly pierced by another tick post-open. Any higher would have triggered a buy signal, but its touch held. And its reaction plunged 5 points — down through a 2266.25 sell signal to 2264.50.

The low’s retest touched 2263.25, filling the gap back down to yesterday’s 2263.50 close. That’s natural support, and it has produced a bounce back up to 2566.25.

Meanwhile, holding a test of this morning’s 2568.25 bias-up signal has put into play an offsetting test of the 2560.25 bias-down signal. Back above 2567.50 would start to suggest the gap-fill has produced enough support for a detour back up to yesterday’s highs.