Post-open Review… Paradigm shiftiness.

Pre-open slide puts the session on defense.

I recorded this morning’s Market Tour while the 2727.00 overnight high’s retest was reacting down several points. The reaction became a steep slide down to 2712.00. The open held its bounce potential up to 2718.50-2719.25 before finally reversing back down to the 2712.00 pre-open low.

But rather than fall off the cliff, surge retested 2719.25. The 2715.00 bias-down signal had already invoked its grace period, and the surge made no-bias likely. The surge’s catalyst was a news headline that’s likely to be retraced, but not quickly. In fact, late no-bias triggered late.

Or, did late no-bias trigger too early? Only one minute later, the 2715.00 bias-down signal was breaking lower. Hard. One minute earlier would have triggered noN-bias, and 2-3 minutes earlier would have triggered late bias-down. In fact, the 2708.00 bias-down target has been met to within 3 ticks, so even a timely bias-down would leave no “unfinished business below.”

But, what above that late no-bias — and more specifically, what about its offsetting test of the 2725.25 bias-up signal? Late signals aren’t required to meet their objectives. But they become likelier if not rejected. And now 2715.00 is being recovered as the bias environment starts lapsing. It’s an unusual situation, but there’s still a window for upside before this afternoon’s bearish WedEX influence arrives.