Post-open Review… Resting on its laurels.

Obligatory resistance is being attacked slowly.

There’s a fine line between strong-handed patience, and ineffectual optimism. The difference becomes clearer as pessimists reveal themselves.

This morning’s pessimists are preventing the overnight retests of 2900.00 from probing higher. Not even to 2902.00. But their reactions down are unable to gain traction.

Sellers did prevent triggering the 2895.00 bias-up signal. But its inverse didn’t trigger no-bias. Instead, still testing the bias-up signal at 10:15 and 10:30 has triggered noN-bias. Neither the bias-up target above, nor an offsetting test of the bias-down signal below are required.

Trying to trend higher or lower is still possible, but not to satisfy an objective. Meanwhile, the first hours five 15-minute checkpoints all overlapped the same relevant 2895.00 level, forming a “Dry Cleaners morning” setup. It doesn’t prevent trending either, but makes trending attempts difficult and likely to return to 2895.00.

Testing 2902.00 is still likely for its proximity, and for sellers not using the first hour to reverse from its obligatory resistance. Testing 2902.00 is still vulnerable to violent rejection, for the unstable base that is forming in the interim.