Post-open Review… Stuck in a wide rut.

Volatility is high, but sponsorship is limited.

Yesterday’s equilibrium around its 2823.00 open and close persisted to today’s open. Which was impressive, having probed 3-1/2 points under the 2817.50 bias-up signal. Which was also impressive, having rallied earlier to attack 2832.00. The open was contained within the overnight range, which was contained within yesterday’s range.

Volatility is high, but sponsorship is limited.

The open surged immediately to 2830.50 and began reversing down as quickly. The first half-hour ended back down at the 2817.50 bias-up signal. Volatility is high, but sponsorship is limited.

Most recently holding a test of the bias-down signal put into play an offsetting test of the 2828.25 bias-up signal. Which was quickly tested. And just as quickly reversed down. The overnight low is being probed by 3 points to touch the 2810.75 bias-down target. Volatility is high…

But is sponsorship still limited?

This is still a no-bias environment, so tests of either bias signal should define that end of the window. No-bias trending under the bias-down signal requires its retracement UNLESS the bias environment is exited under its 2810.75 bias-down target.