Post-open Review… Head-fake city.

Pre-open recovery gets post-open attack.

The overnight dip ultimately touched this morning’s 2344.75 bias-down target. It was recovered to greet the open at 2350.75. And after a dip touched the 2349.75 bias-down signal, the recovery extended to 2354.50.

None of which prevented a 6-point slide to 2346.50. It was consolidated back up to 2349.75, which triggered bias-down.

Recovering 2349.75 through 10:30 could have invalidated that it had triggered at 10:15. Indeed, surging through it touched 2352.50. But the 10:30 bar was still overlapping 2349.75, literally 1 minute too late to qualify.

This is a bias-down environment. In fact, the bounce to 2352.50 just reacted back down 4 points. Its failure is so far only partial, and not yet printing a fresh post-10:15 low, which still allows invalidating the bias-down.

Meanwhile, the 2344.75 bias-down target remains intact. This morning’s dip may be absorbed ultimately, from a deeper level. But the dip must hold yesterday’s lows through a relevant timing window, or else 2321.00 and lower would come into play.