Post-open Review… Pre-open dip keeps the lid on it.

Gap down holds test of bias-down signal.

A late probe of fresh overnight lows has been retraced into and out of the open. Its recovery was potentially bearish, filling the gap back to Friday’s futures close so that its attraction is now neutralized. Recovering the late dip is also potentially bullish, having put into play fresh highs.

The 10-point drop down to 2284.00 had bounced enough for the open to touch 2286.25 and then extend higher. Being this morning’s bias-down signal, holding its test through 10:15 has put into play an offsetting test of the 2295.25 bias-up signal.

Touching 2286.25 post-open was likely in a bullish scenario, and recovering 2288.00 led the scenario to include testing 2290.75. The objective was met, and retested, but not yet actually exceeded.

Reacting down to 2287.25 should be only a temporary corrective dip before resolving up. Invalidating the bias signal became much more difficult when price probed a fresh post-open high after 10:15.

Back above 2290.00 would start to signal the recovery was resuming. But not yet recovering when the bias environment begins lapsing could require a deeper dip to 2281.00 before bottoming.