Post-open Review… Stuck in an eddy.

Recovery attempts resisted by yesterday’s close.

Opening at the 1971.00 attraction firmed to within 3 ticks of yesterday’s 1975.50 cash session close. Its reaction stretched the rubber band to attack 1968.00, and snapped back up to 1 point above yesterday’s 1975.50 cash session close.

The 1977.00 bias-up signal wasn’t triggered, only attacked to within 2 ticks. The next reaction attacked the 1966.00 bias-down signal to within 1 tick.

Being a no-bias environment, the bias signals should define either end of its range. Back above 1971.00 (being tested now) would suggest a retest of the range’s upper-end, which could extend higher as the bias environment starts lapsing. Similarly, breaking lower immediately wouldn’t be credible.