Post-open Review… Nevertheless.

Bisa-down target’s test bounces big.

We knew that quickly taking a sell signal was compelling because the bearish Globex-flip setup was triggering. That is, opening under Sunday night’s initial 2896.00 low, and Friday’s 2895.25 last relative low, could point down all morning.

Immediately breaking under the 2890.00 signal soon extended down to within 1 tick of this morning’s 2884.00 bias-down target.

Then the market bounced. And kept bouncing. It’s still bouncing.

The 2890.75 bias-down signal triggered, and narrowly missed invoking the brace period. Regardless, it was still being tested at 10:30 when recovering higher would have invalidated it. This is a bias-down environment, and probing above its bias-down signal requires being retraced or already rejected when the bias window lapses.

Fulfilling the bias-down target to within at least 3 ticks relieves it from becoming “unfinished business” if not actually touched. Meanwhile, the Globex-flip setup doesn’t expect this morning to recover, and a lot of buying pressure has been expended when it can’t gain traction for the effort. Back under 2890.75 would start to signal another downleg underway.