Post-open Review… Now THAT’S a range.

Wide overnight range dwarfed by the first hour.

Ultimately, the pre-open recovery opened back at the 1891.75 bias-up signal. It had been probed temporarily overnight, and the interim dip had tested the 1875.00 bias-down target.

The overnight low was retested. The first half-hour plunged to fresh lows at 1871.00. Probing under just 1881.00 during late-afternoon would have found an air pocket. But this was early enough to attract counter-trend sponsorship. At least, the 20-point plunge was deep enough to have satisfied its sponsorship.

The 1880.25 bias-down signal was recovered in time to invoke the grace period. During that time, the 1891.75 bias-up signal was exceeded. Then the 1899.25 bias-up target was exceeded. And the potential for testing “higher prior lows” around 1910.00 has been fulfilled… to within 3 ticks of 1912.00.

Overbought RSIs require the high’s retest, presumably to actually touch 1912.00, possibly probing it by 1 point. Oversold RSIs at the low require its eventual retest, too — a great example why this is not a timing tool. But until fresh post-open highs were to print, the decline is unlikely to resume today.