Post-open Review… Skeptical.

Is the rally really ending without a fight?

Yesterday afternoon’s rally gained traction for having exited the bias environment above the noon hour’s high, and for then entering the final hour even higher. For that reason alone — at least, since that traction wasn’t invalidated through the open — I’m still expecting this morning to probe fresh highs.

Probe fresh highs… again. The open already probed fresh highs, surging to within 1 tick of 2024.00. But that doesn’t qualify as a reward. And if it had, then a deeper downdraft would be obvious by now.

The only downdraft was a brief probe under yesterday’s 2017.00 cash session high. It’s trying to recover, but still being overlapped. The rubber band was stretched, but it’s not exactly “snapping” back up.

Back above 2018.50 would signal and above 2020.50 confirm that a probe of fresh session highs above 2024.00 is underway. This could negate the morning’s “late no-bias”  signal that is otherwise targeting an offsetting test of the 2011.00 bias-down signal.

This afternoon could be a different story. I think this afternoon will be a different story — with the bearish WedEX now accompanied by the opening 15 minutes of volatility having trended down. But afternoon bearishness would be difficult if there is any attraction outstanding above.