Post-open Review… Good effort, but no.

Overnight recovery attracts no new sponsorship.

Last night’s dip from 2095.50 down to 2085.75 had been recovered pre-open up to 2098.00. Its reaction down greeted the open at this morning’s 2096.25 bias-up signal, and extended down to 2092.50. Two more bounces held 2096.25.

Meanwhile, the bullish scenario’s 2093.75 pullback limit held two tests, too. It’s now being tested for a third time. It will probably break lower, since the bias-up signal is failing to trigger, putting into play an offsetting test of the 2088.25 bias-down signal.

That may be the bullish scenario. Having failed to gap up and extend higher in this no-traction setup, probing fresh highs this morning would have been doomed to failure. Delaying fresh highs until late-afternoon would escape that restraint. By the same token, probing fresh highs anyway could form a more durable top here.