Post-open Review… Down, but not out.

Late no-bias is suspicious.

The shallow overnight bounce up to 2691.50 was already retraced back down to 2688.00 before the open. Post-open action quickly slid to 2684.75. So, back to Tuesday’s lows, right? Not so fast, there. The slide was retraced up to 2689.00, and then returned back down to 2684.75. So, NOW back to Tuesday’s lows?

Not quite. The 2685.50 bias-down signal was touched within 3 minutes of the 10:15 bias timing window to invoke the grace period. And it held up through 10:30 to trigger “late no-bias.” So, back up to the 2692.75 bias-up signal? That’s what the bias now indicates, an offsetting test of the bias-up signal.

But still hovering at or around the bias-down signal is suspicious. It’s too late to trigger bias-down, or to invoke the grace period. Invalidating it requires exiting the bias environment under its 2680.50 bias-down target. A sell signal is in-play under 2686.50 that would be confirmed by fresh lows.

I’ll lower the buy signal to 2688.75 on fresh lows, and meanwhile give sellers a benefit of the doubt. Regardless, durable trending is unlikely today, so even if 2680.50 were tested, it is support.