Post-open Review… Threading the needle.

Triggering then un-triggering bias-up.

Pulling back into the open from 2682.25 to 2674.50 was sufficient to correct the earlier overnight gains. We know that because the open surged, extending to attack 2682.00.

Interestingly, the price action seemed to be ignoring or at least compartmentalizing an ominous announcement from Israel regarding Iran. Apparently, that became impossible when crude oil had popped too much.

Eventually, price had reversed down to 2671.75. I’m assuming it’s a reaction to non-market news which is likely to be recovered. But that’s in contradiction to the 2678.25 bias-up signal failing to trigger, putting into play an offsetting test of its 2662.25 bias-down signal.

A reaction up to 2679.00 is trying to rally, anyway. Which it can, even with the objective outstanding below. Exiting the bias environment above its 2684.25 bias-up target would invalidate that objective below, but it can become “unfinished business.”

Back above 2679.00 would put higher highs back into play. Otherwise, another dip under 2673.00 would reinforce the 2662.25 objective, or something substantially lower this morning on the along that path.