Post-open Review… Two sponsorships is no sponsorship.

Still testing both bias signals as the grace period begins.

Actually, that scenario has since been resolved. This is a late bias-down environment. But even that signal is suspicious.

The 2009.50 bias-up signal was tested at the open. Holding its test through 10:15 would have put into play and offsetting test of the 1995.50 bias-down signal. Except, the 1995.50 bias-down signal was being overlapped within 3 minutes of 10:15 to invoke the grace period.

1995.50‘s test was courtesy of a 13-point plunge. That was nothing. A 20-1/2 point surge probed fresh highs at 2014.00. It overlapped the 2009.50 bias-up signal in time to invoke its grace period, too.

Not unprecedented. Just too very rare to test both bias signals around 10:15.

The biggest move yet was the return to fresh lows at 1992.00, triggering late bias-down. Even that was made suspect by immediately bouncing to 2001.25. It has now reacted down back under the 1995.50 bias-down signal.

This is another opportunity to prove sellers have no sponsorship under Friday’s lows. Exiting the bias environment in positive territory would be least such indication. By the same token, exiting the bias environment in negative territory could be the catalyst that attracts much more durable selling pressures.