Post-open Review… Buyers still trying.

Sellers not yet rejected.

Monday’s very late price action included a sell signal that was probed under 2494.00 by 6 points (before snapping back up 25 points). Now this morning’s 2468.00 open has produced a 26-point bounce to test 2494.00 as resistance.

And resistance has held. Also being tested was this morning’s 2493.00 bias-down signal, invoking the grace period and ultimately triggering late. Its reaction down is now retesting its 2483.25 bias-down target down to 2482.00.

Sellers weren’t isolated to the overnight, so a recovery can’t yet be dismissed. Certainly not by triggering late bias-down and already meeting its target. Exiting the bias environment rallying back above the bias-down parameters could trend back up to Monday’s 2510.00 highs.

The downside is meanwhile free to resume. Exiting the bias window under its target, and preferably deeper, would suggest that the open’s buyers had expended a lot of selling pressure without gaining traction for their effort.