Post-open Review… Still digesting that French cuisine.

Plus ca change, plus la meme chose.

Plus ca change, plus la meme chose. Reversed, I know. As it should be, with a noN-bias. The bias-down signal was touched overnight, but the open bounced up to Friday’s cash and futures session closes at 2396.00 and 2397.75. Then plunged to touch the 2392.25 bias-down signal.

Bias-down’s grace period was invoked, but was still being tested at 10:30 to trigger noN-bias. The bias-down target isn’t in-play. Neither is an offsetting test of the bias-up signal. Also, there’s no constraint for the bias-down signal to define the morning’s lows.

And now having probed a fresh low down to 2391.25, the next lower attraction is 2388.00. The 2387.00 bias-down target doesn’t require being tested due to the bias-down signal’s very late break.

Being a noN-bias environment, back above the 2394.00 area would be credible for extending. Sunday night’s high is still likely at some point to be probed. Delaying the rejection of an essentially flat open undermines the sponsorship behind the late selling. And a lot of support still lies at Friday’s mid-day “lower prior highs.”