Post-open Review… Pushing it.

Pre-open recovery too much too bear.

The overnight rally had extended to 2442.25 when news broke the shooting outside Washington, D.C. Its 4-point reaction down to 2438.25 was reversed back up quickly. Too quickly, before any accumulative activity could develop. That triggered a warning in the chaRTroom.

It also triggered a reaction down. Friday’s 2443.50 high had been attacked to within 1 tick. Reacting down through the open has returned to the 2435.00 overnight low, now piercing it by 2 ticks.

Opening above the 2440.25 bias-up signal and not triggering it has put into play an offsetting test of the 2433.00 bias-down signal. Testing it before the afternoon FOMC events will be likely so long as interim bounces hold any test of 2438.00.