Post-open Review… Reservations.

Chance to renew bias-up fails as target holds.

But it’s still a bias-up environment. That is, the 2703.00 bias-up signal was exceeded through 10:15. Simple. Let’s complicate that, shall we?

Triggering bias-up puts into play its target. Which this morning is 2713.50. Which was tested already post-open, first up to 2717.75, then lower and lower through 10:15 when it was officially pronounced as having held. So, this is a bias-up environment whose target is met.

It’s still a bias-up environment, so its target can be met again. Its target need not hold a retest, although that’s less likely having held its test(s) through 10:15 instead of exceeding it to renew the bias-up signal. The likelier resolution is to attack or test the bias-up signal as support.

That seems odd, and should — expecting the bias-up environment to dip. But it tends to be the resolution when not renewing the bias-up signal AND when gapping up so high as to have avoided even touching the bias-up signal during the session’s entire first 45 minutes.

So, that’s the expectation. Unless the 2713.50 bias-up target is exceeded, the balance of the bias environment is likely to attack or to test its 2703.00 bias-up signal as support. Anything later or lower will depend on what pattern forms along the way. I’ll lower the buy signal as possible.

ADDENDUM: Before being able to upload this post, the expectation described above (which I have been describing all morning in the chaRTroom) was fulfilled. More so, 2703.00 is being probed to test 2698.00-2700.00. This will require bouncing to at least 2703.00 for it to define the window’s lower-end. And there’s potential for today to close back under 2684.00 which would invalidate yesterday’s recovery. However, it’s too late to invert the bullish WedEX.