Post-open review… Another hunt for buyers.

Post-open bounce quickly resumes the pre-open slide.

The open tried to recover back above 2094.00 and through 2096.00 to make the pre-open slide trap shorts. That required also recovering 2098.00, but it was rejected as quickly as it was touched.

The reaction down tried to hold 2096.00. But failing to hold 2094.00 made the 2095.50 bias-down signal likely to trigger at 10:15. Actually, the 2088.00 bias-down target was already tested at 10:15.

The 2088.00 bias-down target wasn”t broken, so the bias-down signal wasn”t renewed. But this being a bias-down environment, the bias-down signal should still define the range”s upper-end. In fact, a bounce just tested it by 1 point.

Oversold 1-minute and 3-minute RSIs at the actual 2087.75 low require a retest. Just for opening the door to a downdraft instead of resuming the rally, Tuesday night”s 2084.25 low”s retest is likely, too. And its retest is likely also to visit 2077.00. The next upleg is likely to begin from retesting 2084.25, however deeply.

Maybe a lack of buyers wasn”t what prevented extending higher this morning. Perhaps the problem was too much selling pressure. Fulfilling the 2088.00 target so quickly does introduce that possibility. So would exiting the bias environment back above its 2095.50 bias-down signal. Follow-through would have to extend higher impatiently to be valid.