Post-open Review
Post-open Review… Bearish context confirmed.
Bias-down, until disproved, which they’re trying.
This morning’s bias parameters have been updated HERE to reflect the Dec discount.
The pre-open 9-1/2 point slide to 2170.00 (basis Dec) had fulfilled the likely retest of yesterday’s 2170.50 low. Holding its retest through the open could have signaled that sellers were done. Testing it post-open down to 2169.25 did bounce, but not until after triggering the 2173.25 bias-down signal at 10:15.
So, this is a bias-down environment.
That didn’t prevent violating the 2171.50 bounce limit. And it didn’t prevent a surge up to 2176.25. But it’s too late for recovering the 2173.25 bias-down signal to be relevant. Invalidating bias-down must now recover the 2180.50 bias-up signal when the bias environment begins lapsing at 11:30.
Meanwhile, this is a bias-down environment.
We assume the surge to 2176.25 is only a temporary detour, a last gasp of buying. Back under 2172.75 would start to signal the bias-down remains influential. Otherwise, back above 2176.75 would target a test of the 2180.50 bias-up signal — and possibly also its recovery through 11:30 to invalidate the bias-down.
Post-open Review… Tough crowd.
Pre-open pullback temporarily recovers.
The gap back up to yesterday’s 2185.50 cash session close was likely to be filled, regardless of its resolution. Regardless of post-open weakness, the gap was likely to be filled, if not also probed, since yesterday’s late surge to 2186.25 had not been rejected overnight. That would still be vulnerable to reversing down.
Actually, a shallow post-open dip to 2181.50 was recovered to only touch 2185.50. That didn’t stretch the rubber band very much, and its reaction down was limited to 2-1/2 points, then recovered to fresh highs at 2186.75.
There was room for extending up to this morning’s 2179.00 bias-up signal, just as noise. Regardless of the upside potential, there has been and continues to be a greater vulnerability to reversing down.The closest thing to a requirement was to neutralize the attraction up to 2185.50. Done.
In fact, now an even bigger reaction down just touched the 2181.25 post-open low. Any lower would likely target a test of the 2177.75 bias-down signal. Exiting the bias environment back above yesterday’s 2183.50 could marginalize sellers for the day.
Post-open Review… Rangebound and down.
Opening surge slingshots back down.
Rallying this morning had to begin immediately to be credible. And even then, immediately rallying would be vulnerable to failure. Reversing down did not require any particular timing.
Firming to open at the 2182.00 bias-up signal added 3 ticks quickly and then lost them quicker. The first half-hour only overlapped 2180.50, continually. But it finally broke lower, triggering no-bias.
An offsetting test of the 2174.25 bias-down signal has been fulfilled already. Probing it down to 2173.00 was recovered through 10:30 to avoid invalidating the no-bias. So, this is likely to morning’s low.
The open’s continual overlap of 2180.50 makes it a candidate for attracting price back up to it. Breaking under 2174.00 would make fresh lows likelier — “no-bias trending” if broken too early, and less able to extend down.
Post-open Review… Site difficulties persist.
The pre-open surge extended through the 2177.00 bias-up target to greet the open at 2179.00. A blip-up touched the 2181.25-2182.00 renewed bias-up target and reacted down. Fresh highs up to 2183.75 continually overlapped 2181.25-2182.00.
Maintaining a gap up above prior highs through the open tends to be impossible to reverse down. And this has gone on to be a bias-up environment — renewed, no less.But 1-minute RSI diverged negatively into the high. And a reaction down is retesting the 2179.00 open. If the bias environment drifts flat-to-lower, then late-afternoon would be vulnerable to sliding sharply into the weekend. But sellers get only one bite at this apple to reverse the trend down. Back above 2181.25-2182.00 could trigger a much larger short-squeeze.
Post-open Review… Late to party.
Bias-down invalidated.
The overnight extension higher was only retraced before the open. It may as well have been rejected by reversing into negative territory. 
Not gapping up from yesterday’s setup meant not rallying. Not credibly, not sharply, not durably.
The flat open at 2168.25 reacted up 4 points immediately, triggering a buy signal that peaked within its first 3 minutes at 2172.25. Reversing down through a sell signal under 2169.00 quickly fulfilled its 2166.00 target. The 2164.50 bias-down signal was attacked to within 1 tick, an errant tick’s knee-jerk reaction to news.
No-bias triggered. That’s all the morning was required to do — fluctuate within its range for noise.
When it had become too late to invoke a grace period, another sell signal was triggered under 2166.00. The 2164.50 bias-down signal was broken through 10:30 to invalidate the no-bias. That break was pretty productive, plunging into a sudden bottom at the 2156.50 “unfinished business below.”
Plunging AFTER 10:30 would have been “no-bias trending” which would require recovering. So, this drop can extend, and its next lower objective would be 2141.50. But that’s unlikely. The opportunity to extend was yesterday, and that opportunity was flubbed. Still, oversold RSIs are undermining the current 3-point bounce from testing 2156.50.