Post-open Review… So bearish that it’s bullish.

Sellers already neutralized AND rejected.

Opening just under yesterday afternoon’s 2180.25 low could have recovered it to avoid forming a “session-long decline” setup. Not that the setup was very credible, rejecting only a shallow bounce. But avoiding it would have sent a bullish statement.

Anyway, it wasn’t rejected. Post-open action immediately resumed last night’s plunge. But…

Extending to fresh lows came within 3 ticks of the 2172.00 bias-down target. That’s close enough to neutralize it from becoming “unfinished business below,” an otherwise irrelevant observation this morning. But…

Bias-down was invalidated. Despite triggering it at 10:15, and not invoking a grace period, recovering it through 10:30 has invalidated it. It’s too late to put into play an offsetting test of the bias-up signal — this is not a synthetic “no-bias,” which needed to trigger by 10:15. But…

It’s bullish. Follow-through has tested fresh post-open highs up to 2181.50. Potentially very bullish. Today’s other influences — such as the bullish WedEX — could be that much more productive. Otherwise, exiting the bias environment back under its 2177.00 bias-down signal would be bearish.

I pointed out during this morning’s pre-open Tour that several setups were contradicting each other. Yet, rather than paralyze price action, this would increase volatility. The market doesn’t try to disappoint the most participants at any given time. It tries ultimately to satisfy everyone. This is how it keeps their loyalty.