Post-open Review… Thin air.

Retest of prior highs didn’t attract sponsorship.

The ECB news had been greeted at this morning’s 1987.00 bias-up target. Its knee-jerk reaction to 2001.00 was retraced entirely before the open, and then some, down to 1984.25.

The open’s blip-down to 1980.50  was consolidated, and then recovered up to 1995.25. Reacting down was supported by the 1987.00 bias-up target. This is a bias-up environment.

That didn’t prevent sliding down to 1976.00. Despite its depth, that leg only overlapped the 1981.75 bias-up signal. And it reacted back up to 1984.00.

This being a bias-up environment, the 1981.75 bias-up signal should define its lower-end. Otherwise, a lower low would be attracted to the 1968.00 unfinished business below left outstanding from yesterday morning.