Post-open Review… A different take.

Post-open rally fails, too.

A pre-open dip to 2586.75 had pierced the overnight low. Rejecting the overnight probe above yesterday’s high should have been easy, if that’s what the market intended. It did not.

Already greeting the open back up at 2589.00 became likelier to retest the 2593.50 overnight high’s “new Globex trend extreme.” At least at some point today. It was touched already before the top of the hour.

Already having neutralized the new upside attraction, the rally depended greatly on triggering the bias-up signal. It did not. Obligatory resistance at the overnight high has pushed back down.

The overnight low is being pierced again by 1 tick down to 2587.00. It’s too late for that to reverse momentum down as the setup would at the open. But having held a test of the bias-up signal, an offsetting test of the 2583.50 bias-down signal is now in-play. Otherwise, exiting the morning bias environment back above 2590.50 would suggest the reversal down will wait for another probe of fresh highs.