Post-open Review… Bearing down.

Isolation rejected, WedEX reaffirmed.

Probing 7 points under Friday’s 2756.50 low was recovered to open at this morning’s 2777.00 bias-up signal. Maintaining its recovery would isolate the probe under Friday’s low to the overnight. That would be bullish. Or, would have been bullish.

The recovery was maintained through the opening 15 minutes of volatility, but not by a complex probe minutes later. Not maintaining the recovery is almost as bearish as the setup would have been bullish. The drop extended down to 2751.00.

That was almost 30 points under the open’s 2780.50 high. That’s the bearish WedEX’s aggressive influence. That bearish influence should persist through the bias environment, but now a bounce is back well above the 2764.25 bias-down signal up to 2775.00. So, the question is whether the bearish influence will resume.

The trend isn’t required to extend, although that’s increasingly likely — even after the bearish WedEX lapses — if this morning’s dip isn’t recovered and reversed. But the 2758.75 bias-down target is already met. At least the 2764.25 bias-down signal should be retested as support, regardless of its resolution.