Post-open Review… Unwinding down.

Pre-open dive extends post-open.

The pre-open drop from 2086.00 to 2077.00 had firmed up to 2080.50. That’s this morning’s bias-up signal, and it was tested post-open, but not triggered at 10:15. Yellen’s opening remarks reiterated a rate-hike mentality, as expected.

So, this is a no-bias environment, its objective being an offsetting test of the 2070.75 bias-down signal. An offsetting test of the 2063.75 bias-down target would be in-play, too, had the 2086.00 bias-up target been touched post-open.

Meanwhile, bounces are likely to fail. And bounces are likely, as anxiousness breeds volatility during the first hour of Yellen’s Senate testimony. Its influences wanes significantly after that.