Post-open Review… Backed-down.

Overnight fight to recover held key resistance.

So, did the overnight rally create room to absorb post-open selling?

Rallying above 2770.00 overnight had consolidated in a narrow range around this morning’s 2781.50 bias-up signal. For 5 hours. The open blipped-up 1 point above the 2781.50 and resolved down quickly to attack and test 2772.00. A blip-up to 2778.00 resolved down quickly again to attack the 2766.00 bias-down signal.

Triggering no-bias put into play an offsetting test of the bias-down signal. That’s now neutralized. The bias-down signal can be probed, but should otherwise define the ewindow’s lower-end. And having neutralized the bias-down signal’s test, the no-bias environment has room back up to its bias-up signal.

Back under 2768.75 would signal the low’s retest. Meanwhile, back above 2772.00 (being tested now) would at least start signaling momentum reversing up, and the potential for resuming the overnight rally.