Post-open Review… Watch out for falling headlines.

Two bullish signals, and a wild card.

Overnight testing and retesting of 2793.50 doesn’t necessarily dictate intraday action. Regardless of its proximity to the next lower target of 2791.25, only post-open action could put it into play. Maintaining an open under 2804.00 would have done that. That’s where the open was greeted, which improved from there. So, 2791.25 is not in-play.

The overnight low and its retest both reacted back up into yesterday’s range above 2800.00-2802.00. The second reaction’s recovery persisted through the open, which forms an Isolation setup. Isolating the probe under yesterday’s lows to the overnight — so long as yesterday’s 2800.00-2802.00 lows continue holding — is usually rewarded by retracing the overnight probe’s origin. That’s 2818.00.

Meanwhile, this morning’s 2802.25 bias-down signal was touched post-open. Holding its test through 10:15 has put into play an offsetting test of the 2811.00 bias-up signal. The bias-down target was tested overnight, but only overnight, so its offsetting test isn’t required.

The Isolation setup identifies context. Its afternoons don’t necessarily extend the morning’s direction. So, we’re still monitoring for the bearish WedEX afternoon influence.