Post-open Review… Taking care of business (below).

Invalidated no-bias after post-open drop finally extended deeply enough.

The overnight range held through the open to avoid a false breakout within 60-90 minutes of the open. But the overnight range held to greet the open flat, not indicating any trending in either direction.

And then it did. Post-open action was not at all restrained. Volatility immediately increased with a couple of bars during the first 3 minutes that were wider than any overnight bar. Trending down didn’t bounce until attacking the 2906.00 bias-down signal to within 1 tick. Which held in time to trigger no-bias.

And then it didn’t. Breaking under 2906.00 through 10:3 invalidate the timely bias signal. This is a no-bias environment. Probing under 2906.00 does not require being retraced for having originated during a no-bias environment. And the 2899.00 bias-down signal doesn’t require being tested.

Meanwhile, a 5-stage pattern has developed that’s likely to test 2904.50 as resistance (being tested now).  Its resolution would be predictive through the afternoon bias environment. Either higher to retest the 2912.25 open and higher, or back down to test “lower prior highs” at or under 2898.00.

Suddenly trending from the overnight ranging can extend. But probing the 2900.50 low while RSIs diverge positively would enable a bounce to neutralize Friday’s 2910.00 gap up.