Post-open review

Different bat channel, but same bat time…

The 1998.00 overnight high was attacked into the open. But it was no likelier to gain traction and extend. At least, not without holding up through the open.

And the open didn”t hold up.

Quickly reacting down to test 1986.00 also tested Friday”s late low. Sawing through there soon extended down to 1973.25. That”s 15 points of selling pressure before the 10:15 bias timing window.

By then, a bounce had recovered the 1976.75 bias-down target to avoid renewing the bias-down signal. It”s still a bias-down environment, but not with any requirement to trend down further — only the requirement to eventually retest the 1973.25 low whose RSIs are oversold.

Meanwhile, a bounce to 1985.50 may be preparing the low”s retest, which is triggered back under 1983.00 and 1980.75. The low could be retested down to 1971.50. Regardless, exiting the bias environment at 11:30 under its 1976.75 bias-down target would strongly suggest the drop is extending.