Post-open Review… Live by the surge, die by the surge.

Another post-open surge falls flat.

Today’s bullish scenario required a blip-down to fresh lows. Stretch the rubber band and prove there was no sponsorship for extending down. Reacting up a little would be expected to attract buyers.

The last-minute pre-open dip to 2079.75 was already reversing up into the open. The gap back to yesterday’s 2086.00 cash session close was filled. That generated the same warning as yesterday. And like yesterday, a reaction down could have recovered. Also like yesterday, it didn’t.

The 2081.00 bias-down signal triggered late, and already the 2075.50 bias-down target has been attacked to within 3 ticks. Oversold RSIs at the low require its eventual retest. Exiting the bias environment back above 2081.00 would suggest that retest will wait.

Meanwhile, this area can be tested as support before becoming bearish. Today’s bullish scenario hasn’t really changed — A rally isn’t really possible until late-afternoon, likelier if greeting the FOMC statement nearer to this morning’s highs.