Post-open Review… Buyers stiffed.

Post-open bounce traps longs, sellers pounce.

Greeting the open unchanged at 2888.00-2889.00 was essentially a standing-stop. That’s a difficult and dangerous setup to pick one resolution or the other. Not only for the lack of momentum, but also for the attraction to unchanged that would likely inhibit or doom a post-open trending attempt.

At least a narrowing range greeted the open, too, so some trending attempt or attempts would be possible. And there were trending attempts. First a dip down to 2885.50 and then its reaction up to almost 2893.00. Both overlapped unchanged, and that influence wasn’t finished, as another reversal slid back into negative territory at 2880.25.

The grace period was invoked, and very narrowly triggered no-bias. But as I described in real-time in the chaRTroom, we’re treating it as a noN-bias that doesn’t have any bias requirement. Meanwhile, oversold RSIs at yesterday’s 2877.25 low has been neutralized.

It’s being probed down to 2871.50, under room for noise. And it must be rejected back above 2880.25 or optimally 2884.50 through a relevant timing window to avoid putting into play 2857.00. Back above 2878.00 would be the first signal a recovery is being attempted.