Post-open Review… Buyers rejected again.

Gap up rejected.

Yesterday afternoon’s 2740.50 bias environment high produced fresh session lows. So, maintaining a gap up above 2740.50 would reject the prior afternoon’s drop. Gap up, maintain it, and extend it. Gapping up was maintained above 2740.50, but not extended. That’s still a position of strength, but with limitations.

One limitation was exceeded by triggering a sell signal under 2737.75. Then another limitation failed by not triggering bias-up. More so, both the 2735.50 AND 2742.45 bias-up parameters were rejected, putting into play offsetting tests of BOTH the 2718.00 and 2711.00 bias-down parameters.

The open’s setup wouldn’t have formed a session-long rally, but its failure is still likely to be as bearish as it could have been bullish. Having said that, this being a LATE no-bias environment instead of timely, not testing 2711.00 could avoid probing under yesterday’s lows and still maintain the Isolation setup that hasn’t been rejected.