Post-open Review… Flat-to-lower.

The rally isn’t resuming, and barely reversing.

A pre-open dip to fresh overnight lows pierced this morning’s 2807.75 bias-down signal, then bounced to greet the open unchanged at 2812.00. A blip-up to 2814.00 was all the post-open strength that could be mustered. There was no gap up, or even a touch of yesterday’s highs.

Reacting back down then slowly ground lower into negative territory. The bias-down signal was probed by 1 point in time to invoke the grace period. It ultimately held to trigger “late no-bias.” And having held a test of the bias-down signal, an offsetting test of the 2816.00 bias-up signal is in-play.

There hasn’t yet been any new strength above the pre-10:15 high. Without it, the late bias signal can be invalidated by exiting the bias environment under its  2807.75 bias-down signal — which is still being tested.

Exiting the bias environment above 2807.75 would make the 2816.00 objective become “unfinished business above.” Back above 2811.25 would trigger an upleg targeting fresh session highs. And probably also probe 2816.00.