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Post-open Review… Tough room. – If, Then… Market Timing

Post-open Review… Tough room.

Narrow opening range around unchanged.

Support at 2255.50 had looked shaky pre-open. It was pierced by only 1 tick before bouncing to attack the 2259.00 bias-up signal to within 2 ticks. The signal wasn’t touched, and it didn’t trigger, so holding that 2255.50 support didn’t accomplish much.

Meanwhile, three of the first hour’s five 15-minute checkpoints overlapped the same relevant level, within 3 ticks of yesterday’s 2257.50 cash session close. that’s a recipe for “dry cleaners morning.”

Trending attempts are still possible, but not likely, and not likely to succeed. Dipping this morning to 2254.00 is likelier than a bounce up to 2259.00. But there’s no requirement for either