Post-open Review… Not down, not out.

Overnight low’s retest is retraced.

The first tick was essentially flat but that was followed immediately by a spike down to 2261.50. Its consolidation through the first 15 minutes — and through the first half-hour — held yesterday’s 2263.50 lows as resistance. The isolation setup failed. So did any attempt to reject the open’s probe under yesterday’s lows.

That’s bearish.

Another spike down during the first half-hour of 4-1/2 points touched the 2259.50 overnight low. Recovering it almost entirely in time to invoke the grace period barely recovered the 2263.00 bias-down signal in time to avoid triggering bias-down.

That’s bullish.

Now a surge has touched fresh post-open highs at 2266.00. Which would certainly seem bullish. One problem, though, and it’s the same problem that plagued yesterday’s recovery attempts — too late. Like yesterday’s blip-up just AFTER entering the final hour, and a small surge just AFTER the proxy window had closed. This surge originated just AFTER 10:30, when a fresh post-open high would have been optimal.

That’s mixed signals.

Probing under the 2263.00 area as the bias environment begins lapsing would reject the late signal. It would also be credible for resuming yesterday’s opening break that today’s open tried to resume. Nothing can reinstate this morning’s potentially bullish scenarios, but exiting the bias environment above 2268.00 would undermine the bearish scenario.