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Post-open Review… Resistance held. – If, Then… Market Timing

Post-open Review… Resistance held.

Essentially straight down since the open.

Opening at 2125.00 quickly began sinking. The 2124.25-2125.00 intraday resistance held, and the gap back to yesterday’s close was filled down to 2119.50. Lower and lower lows have extended down to 2115.50.

The 2117.75 bias-down signal defined support momentarily, and now it is defining resistance. Overlapping it at 10:15 has invoked the grace period through 10:30.

An optimal “late bias-down” would probe under 2115.50 through 10:30. Probing under Friday’s 2112.50 low would allow a bottom to form, but its test is likely to visit 2105.00. And that would be vulnerable to extending down to 2095.00 and 2082.00.

Not triggering the 2117.75 bias-down signal at 10:15 might bounce back up to yesterday’s 2120.00 and 2120.75 futures and cash session closes. That’s also yesterday’s “higher prior lows.” Further strength than that would be unlikely.

Still overlapping 2117.75 at 10:30 would trigger “noN-bias” and have now required outcome today.