Post-open Review… Last last gasp?

Post-open bounce resembles yesterday afternoon’s rally.

Corrective bounces often exhibit the trait of urgency. Weak sponsorship will abandon a move when its momentum becomes suspicious. So, they must keep hesitation to a minimum while fulfilling their higher objective.

A pre-open dip had retested what would be this morning’s renewed bias-down target at 2042.75. So did a post-open dip, after quickly attacking 2048.00. Quickly recovering to fresh post-open highs was able to overlap the 2052.75 bias-down signal at 10:15 to invoke the grace period.

All quick, like a temporary correction.

Bias-down triggered late. The 2052.75 bias-down signal should still define the range’s upper-end if retested. Its 2046.75 target was just retested, and this being a bias-down environment, it need not hold as support.

Not renewing the bias-down signal at 10:15 has made lower objectives at 2030.00-2035.00 unlikely to be met this morning. The bigger picture still points there, although recovering the 2052.75 bias-down signal while the bias environment is lapsing would be bullish.