Post-open Review… Crawling out of the tariff tank.

Pre-open and post-open reactions down are recovering.

Resistance at 2784.00-2785.00 was likely to reverse momentum back down if tested early enough. In fact, attacking it to within 2 ticks before the open was quickly reversed 8 points down to 2775.00. And tests of 2784.00-2785.00 after the open reacted down, too.

But not 8 points.

Still overlapping the 2782.00 bias-down target at 10:15 avoided renewing the bias-down signal, which has been rewarded by an attack on 2788.00. But overlapping 2782.00 is not the same as holding it decisively, and it’s still a bias-down environment, so sellers aren’t marginalized. And now 2782.00 is being retested as support.

Exiting the bias environment above 2784.00-2785.00 would start to suggest what the open failed to establish — that the overnight drop has been absorbed. Otherwise, the pattern remains vulnerable to attacking the overnight low down to 2768.50, if not also probing it down to 2761.00-2762.00.