Post-open Review… Sellers shut out, or shut down?

The overnight recovery from 2631.25 ultimately filled the .

The overnight recovery from 2631.25 ultimately filled the gap back to yesterday’s 2647.00 cash session close. Probing its resistance held though the open, and reacted down to 2643.00. Neither bias signal was touched or attacked through the first half-hour. Or through the 10:15 bias-timing window.

The 2651.00 bias-up signal was attacked before the first hour began lapsing. There was still plenty of time before 10:30 for its recovery to invalidate the no-bias. Anxiousness ahead of the (planned) tax reform vote is clearly influential.

The 2651.00 bias-up signal should define the bias environment’s upper-end if tested before the window starts lapsing at 11:30. Probing above it would be “no-bias trending” that requires retracing to the bias signal or lower. No-bias trending in this pattern could test 2654.50.

Meanwhile, back under 2646.00 (being tested now) and 2644.25 would start to signal another downdraft underway, instead. And without the open having formed any anchor in positive territory, a downdraft would have little limitation into the weekend.