Post-open Review… Digging out.

Draghi spoke, futures spiked.

Structurally, the overnight pattern tracked another bottoming template by probing under Tuesday night’s 2356.50 low. Opening back above yesterday’s lows essentially isolated the probe to the overnight.

Calculably, fresh lows touching 2354.50 would have been optimal before rallying. But not necessary — there is no unfinished business below.

And there’s no new unfinished business above. The 2366.50 bias-up signal was not touched. So, it didn’t trigger and it wasn’t rejected. The bias-up signal should defined the morning’s upper-end if it is tested.

Exceeding the 2366.50 bias-up signal through 10:30 would invalidate the no-bias that triggered at 10:15. A rally would then be credible. Probing it after 10:30 could extend higher, too, but as no-bias trending which is doomed to failure.

The only other bullish template would simply slow-play the recovery. Hovering at post-open highs until the bias environment begins lapsing would then be postured to extend higher into the afternoon.

Back under 2360.50 would instead start to suggest fresh lows — e.g. 2354.50 — are in-play.