Post-open Review… No buyers.

Pre-open drop struggles to hold.

The quasi Globex-flip setup did test its 2729.00 earlier Globex low post-open. But the level held through the opening 15 minutes of volatility to avoid triggering the setup. Neither was it rejected decisively, and it did require ignoring Friday’s noon hour high. So, its resolution may not be bearish for failing to form.

But the open’s resolution was bearish, anyway. Two inflection points at 2734.00 and 2732.25  held bounces, each time their  errant ticks resolving down to a fresh low. And the second resolution has been very productive:

This morning’s 2727.75 bias-down target, and its 2720.75 renewed bias-down target are both met. But probing them down to 2716.00 was recovered back above 2720.75 through 10:15 to avoid a doubly-renewed bias-down. Still being a bias-down environment, and having simultaneously oversold 1-min and 3-min RSIs at the low, fresh lows are now testing 2710.25.

Already meeting its targets doesn’t affect whether this is a bias-down environment. The bearish WedEX may be aggressively productive for the next hour, regardless of only absorbing post-open buyers, and despite not actually trending down through 9:45.