Post-open Review… More post-open dipping.

Post-open buyers are scarce.

The overnight rally up to 2921.25 had ranged sideways for 5-1/2 hours into the open. The series of higher highs and higher lows was maintained, so the overnight in its entirety still qualifies as trending. Relentless trending. But its sponsorship was ready to pass the baton.

Fluctuating sideways around the 2919.00 bias-up target through the opening 15 minutes of volatility wasn’t itself predictive. No pattern was formed, other than the inability to extend above the bias-up target. Overnight sponsorship wasn’t attracting intraday reinforcements.

Price began slipping and has tested the 2913.00 bias-up signal down to 2911.50. Its test should define the window’s lower-end, this being a bias-up environment. Probing under it before the window lapses would require its retracement.

Already having been met, the 2919.00 bias-up target won’t become unfinished business if left outstanding. But the 2919.25 opening print and the 2921.25 “new Globex trend extreme” both want to be retested intraday. Back above 2915.50 would start to signal their tests underway.