Post-open Review… Ring around the rosie.

Sellers pounce on bias-up target like the plague.

The open was greeted at or around the 2628.50 bias-up signal. A brief bobble soon surged to fresh highs at 2631.50. The opening 15 minutes of volatility then lapsed. Any higher by then would have been likely to trigger bias-up. The delay didn’t prevent fulfilling the 2633.50 bias-up target anyway. But probing it by 3 ticks into the top of the hour was premature.

Premature, and impatient. Potentially the stuff of weak-handed sponsorship. Its reaction down didn’t collapse immediately. But its eventual collapse down to 2625.25 overlapped the 2628.50 bias-up signal in time to invoke the grace period (3 minutes either way of 10:15).

Late no-bias triggered. An offsetting test of the 2617.50 bias-down signal is in-play. An interim bounce up to 2630.75 has resolved down to 2624.50. Today’s session could become defined as backing-and-filling into negative territory, without resuming the rally. And that would be bearish one day following yesterday’s rally to new highs.