Post-open Review… Not extending.

Open’s break not rejected, yet.

Not rallying quickly post-open and rejecting the overnight slide was likely to extend down. The open’s blip-up touched 2151.75 and reacted down to fresh lows at 2145.75. And then lower to 2144.50.

That fresh low created a new feature for buyers to reject. And as it would have been rejecting the overnight slide, rejecting the fresh low would be bullish.

So, how’s that going?

The bias signal’s grace period was avoided by 1 tick at 10:15. Then it avoided being invalidated by not decisively recovering the 2147.75 bias-down signal at 10:30. So, this is a bias-down environment by 1 tick at 10:15, and still overlapping 2147.75 at 10:30.

Not very convincing. But official.

There has yet to be a fresh low since 10:15. Exiting the bias environment above the open’s 2151.75 high could invalidate the bias-down. Otherwise, having then failed to reject fresh lows for an entire extra timing window, buyers could become marginalized for the day.