Post-open Review… Ineffectual optimism.

Flat-to-higher open should be a lot higher.

The pre-open rally pierced the 2646.50 overnight high. Its recovery post-open would have signaled the last dip to 2635.25 had held, and that momentum was reversing up. But its reaction down into the open tested yesterday’s last-minute 2638.00-2639.00 lows.

A blip-up touched the 2643.00 bias-up signal before dipping back into the range. No-bias triggered, putting into play an offsetting test of the 2636.50 bias-down signal. But that didn’t prevent another bounce testing 2643.00.

The bounce came too late to trigger bias-up or to invoke the grace period. And it didn’t improve in time to invalidate the signal. Probing fresh highs now would be “no-bias trending” and required to retrace back down.

Falling to fresh lows would not be required to extend down. But it would be the last opportunity to defend against a bigger decline, since there’s still no “unfinished business above.”