Post-open Review… Overwhelmed.

Pre-open rally bites off more than post-open buyers can chew.

We already knew that not rallying quickly post-open would risk not triggering  the 2266.50 bias-up signal, putting into play an offsetting test of the 2259.00 bias-down signal. And that would have mutli-session bearish implications for attracting the balance of the morning down further.

But now that’s essentially the bullish scenario.

Weak-handed buying pressure at the open was unable to probe above yesterday afternoon’s ~2266.75 highs despite piercing them pre-open. Back under 2265.00 signaled momentum reversing down. It reversed down hard. Offsetting test of the 2259.00 bias-down signal? It was triggered. And its 2253.25 bias-down target has already been attacked to within 5 ticks.

So, the bearish scenario would have expended too little buying pressure to trigger bias-up. Now the bullish scenario is having expended too much selling pressure to be maintained.

At least, that would be the bullish scenario — IF the bias-down target is tested and held to within 3 ticks. Preferably this morning, allowably during the noon hour, so long as this afternoon then rallies.

Oversold RSIs at the low require its retest. Back above 2257.75 first would likely bounce to 2262.50. Leaving unfinished business below would likely trend down into the weekend.