Post-open Review… Prepping for one more jump.

Probe of overnight lows recovers, at least.

One more bounce back up to this morning’s 2807.50 bias-up signal had held and returned to the overnight lows’ test and retest under 2801.00. Disappointment was obvious in the market’s deign not to greet the open gapping up. The retail crowd needed to express that same opinion, so a probe under overnight lows became likely.

But the open’s blip-down barely touched the 2799.75 overnight low before reacting up. Reacting up into positive territory at 2806.50 wasn’t likely to extend, as a probe under overnight lows remained likely.

Finally, the open’s choppy range broke lower. The 2798.25 bias-down signal was only attacked to within 1 tick to avoid invoking the grace period. Probing under it down to 2795.75 was recovered back to 2798.25 in time to avoid invalidating no-bias. A lower low would still be “no-bias trending” that requires recovery, but probably not before testing 2792.00-2793.00.

This is a no-bias environment. An offsetting test of the bias-up signal is not required, since the bias-down signal wasn’t touched during the bias timing window. Backing-and-filling down to 2798.25 is possible, perhaps even a little likely, but not necessary before launching a probe into positive territory this morning or this afternoon.