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Post-open Review… Turnabout is fair play. – If, Then… Market Timing

Post-open Review… Turnabout is fair play.

Opening bounce fails to maintain.

Regardless of the 3 upside attractions now outstanding, sellers are in control.

That was first indicated by exiting the opening 15 minutes of volatility at 9:45 under the earlier 2873.50 overnight low — when the interim 2878.50 overnight high had probed the prior session’s high. This slingshot’s influence tends to last through the morning, if not also through the following morning.

Then the post-open bounce attacked 2872.25 to its room for noise at 2871.00, where it started becoming attractive to sell. And finally, so far, the bounce’s failure has triggered the 2866.25 bias-down signal.

Already, the 2860.25 bias-down target has been met. And now probed, considerably, down to 2855.75. That’s Friday morning’s highs, “higher prior lows” that could be difficult to break and may instead hold. Oversold RSIs suggest a bounce would fail. But recovering 2860.25 as the bias environment begins lapsing at 11:30 would suggest the low’s retest will wait for a bigger bounce.