Post-open review… Today’s bear market ended?

Pre-open drop runs into Friday Factor.

Trending is difficult to start on Fridays. So, the pre-open drop to support at the 2123.25 bias-down signal wasn”t likely to extend. In fact, a post-open blip-down touched it again before reacting up sharply to 2127.75.

Not much has happened since then. Yesterday”s 2128.00 futures close is natural resistance, and filling its gap has inhibited extending higher. That was a long time ago, without yet reversing down, so this appears to be ineffectual pessimism.

Have I said, yet, how difficult it is to trend on Fridays? Reacting from one end of the range to the other isn”t trending. And holding a test of the 2123.25 bias-down signal has put into play an offsetting test of the 2133.00 bias-up signal.

Back under 2125.25 would start to signal new lows, potentially to 2121.75. There is otherwise no requirement for a fresh low.