Post-open Review… Nice try.

Post-open bounce still triggers bias-down.

Overnight ranging between the 2636.00-2645.00 bias-down parameters had broken lower within 30-60-90 minutes before the open. And not by a little, sliding quickly to retest Wednesday’s night’s low by 1 point down to 2626.00.

Its reaction greeted the open already testing a 2630.75 buy signal. Although it would have made a more credible bottom to first retest the overnight low, the first half-hour extended up to 2643.00. Nevertheless, RSIs diverged negatively into its retest, stopping 6 ticks short of even touching the 2645.00 bias-down signal.

This is a bias-down environment. Its bias-down target was already met, and not broken through 10:15 to renew the bias-down signal. But RSIs continue deteriorating, and the reaction down is now testing 2633.50.

The 2636.00 bias-down target is still support. Exiting the bias environment above it would normally suggest that sellers had lost traction. Today the bias environment exit is essentially the early close. Extending down under overnight lows would next target a retest of 2603.00.