Post-open Review… Thin air.

Rally tries to resume, but fails..

The pre-open rally to 2014.00 had reacted down to 2016.00 into the open. A post-open bounce to 2012.25 has reacted down to 2002.50.

Along the way, the 2011.75 attraction above was retested intraday for the first time. The 2011.00 bias-up signal was also tested, and rejected through 10:15.

This is a no-bias environment. Having held a test of one bias signal, an offsetting test of the opposite bias signal is in-play at the 1999.50 bias-down signal. This will delay rewarding yesterday’s buyers until this afternoon, which is today’s second likeliest scenario.

That attraction below at 1999.50 can be avoided by exiting the bias environment at 11:30 back above its 2011.00 bias-up signal without having probed any lower after 10:15. Otherwise, that 1999.50 attraction becomes “unfinished business below.”

So long as this morning’s weakness (ranging narrowly around unchanged is weakness?) doesn’t evolve into a deeper downleg, this morning’s backing-and-filling should recover this afternoon to probe fresh highs.