Post-open Review… Unequal dislibrium.

Mini-surges and mini-collapses.

The open quickly surged above this morning’s 2626.00 bias-down signal to test 2631.00. It was quickly retraced back down to 2626.00. Another surge tested 2632.00 before collapsing back down to 2626.00. A shallower bounce was retraced entirely, too.

2626.00 didn’t hold that time as the collapsed extended to touch 2624.00. But the swings persisted, and now another surge is retesting 2631.75.

We knew the equilibrium environment meant that widely disparate opinions would be expressed  to move the market sharply, both up and down. But we weren’t expecting six 5-6 point moves so quickly. Nevertheless, an offsetting test of the 2635.50 bias-up signal is in-play, and it’s being attacked to within 2-1/2 points. We’ll monitor for its potential to reverse back down.