Post-open review

Optimistic, to the very last drop.

After Sunday night”s 2023.75 high had dipped to Monday morning”s 2003.00 low, Tuesday”s pre-open recovery extended to 2026.50. Dipping back under the 2021.50 and 2018.75 pullback limits started signaling momentum was reversing down. 

Reversing down was not assured, because the pullback limits were being probed pre-open. They were taken more seriously when a post-open bounce reacted down from touching this morning”s 2022.75 bias-up target as resistance.

Rejecting tests of both bias-up parameters put into play tests of both bias-down parameters — both the 2016.50 bias-down signal and the 2001.00 bias-down target. The latter was just attacked to within 1 tick.

Bearish WedEX? Not, yet. This has only retraced Friday”s late-afternoon rally. Retracing Friday afternoon”s 1997.00 low still would not fulfill a bearish WedEX. Maybe another 10 points lower.

Anyway, the reaction up from attacking 2001.00 could signal momentum reversing up by exiting the bias environment at 11:30 back above its 2007.50 bias-down signal. Meanwhile, back under 2003.00 would open the door to extending the decline this morning.