Is this the end of that?

Recovered post-open dive.

The open”s 14-point plunge from 2099.00 had touched its low by 10:15. The balance of the morning trended back up, almost through the entire noon hour — all the way back up to 2099.00.

Actually, this afternoon”s 2099.75 bias-up signal was touched. And it held. The 1:20 bias timing window triggered “no-bias.” 

The bias-up target is not in-play. And there is room down to the bias-down signal, but no requirement to test it. In fact, sellers just attacked 2093.00 ahead of the Beige Book release.

If the week-old topping pattern is rolling over, then I would expect another slide this afternoon, potentially to fresh session lows. But if this morning”s slide was an isolated event, then just recovering the open isn”t enough to absorb it — fresh session highs into the close would be likely, too.

Back above 2097.00 would start putting into play a retest of yesterday”s highs, and higher. But time for that is getting scarce, and extending under 2091.00 would all but confirm that a multi-session decline has begun.