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What’s the opposite of backing-and-filling? – If, Then… Market Timing

What’s the opposite of backing-and-filling?

Initial reaction down from resistance gets squeezed.

The open’s reaction down from the 1950.50 bias-up signal had dipped to “lower prior highs” at 1943.50. That ranged sideways back to 1948.00 through 10:15 to trigger no-bias. Having held a test of the bias-up signal, that put into play an offsetting test of the 1935.50 bias-down signal.

A sudden surge flipped that on its head. Rather than drop 13 points to the bias-down signal, the surge extended into a 13-point rally that tested 1961.00.

There was never a fresh post-10:15 low, so the offsetting test of the bias-down signal is moot. Exiting the bias environment at 11:30 above the 1955.50 bias-up target would invalidate it anyway.

Overbought RSIs at the high require its retest eventually. That can wait if 1955.50 is reversed through 11:30. The no-bias rally’s steep slope and origin is suspicious for being sponsored by weak hands. But holding above 1955.50 would let the overbought RSI be more attractive than anything below.