Post-open Review… More distribution.

Overnight slide extends, to a point.

Fresh lows were tested pre-open down to 2267.25. The slide’s slope immediately steepened on the way down to 2263.50. Its reaction back up to 2267.25 held, and defined fluctuation around the 2265.50 bias-down signal.

2265.50 was touched within 3 minutes of 10:15 to invoke the grace period. It happened to be recovered through 10:30 to trigger late no-bias. An offsetting test of the 2275.50 bias-up signal is in-play.

The bullish scenario is that these two most recent thrusts downward reflect distribution. No argument from me. But they’re still digging deeply enough early enough for long enough to reflect strong hands reversing the trend down.

Back under 2264.25 would suggest otherwise. The late signal hasn’t yet produced a fresh post-open high, so its objective would be moot. And a multi-session downleg would likely be underway.