Post-open Review… Rubber band stretch?

Late sellers take a shot.

Delaying a sell-off post-open would not preclude there being a sell-off. A lesser chance for a sell-off, but not full protection. And the longer that a sell-off were delayed, the likelier it would be recovered entirely, regardless of how shallow or deep.

Initial strength did delay a sell-off. Opening at the 2156.50 bias-up signal and ranging around it created a sort of anchor. Before being able to extend higher, something sent price plunging 6 points under an inflection point at 2154.25. That soon extended to touch 2147.75.

Focus shifted quickly from testing the bias-up signal to testing the 2148.75 bias-down signal. It was overlapped within 3 minutes of the 10:15 bias timing window to invoke the grace period. Bouncing to 2151.00 and higher at 10:30 barely triggered a late no-bias.

This being a no-bias environment, albeit late, and despite already having tested the 2156.50 bias-up signal, an offsetting test of it was put into play. It was quickly tested. Meanwhile, this being a no-bias environment, the bias-up signal should define the range’s upper-end if tested. Which it is, so far.

We come within view of the bias environment lapsing within a half-hour. Breaking higher then would be credible for extending. The only “unfinished business below” would be oversold RSIs at the low, but being created by a knee-jerk reaction to news or to rumors does undermine their attraction.