Post-open Review… Process of elimination.

Overnight selling stopped.

Extending the overnight decline this morning required that post-open sellers make themselves obvious almost immediately. They didn’t.

Drifting downward relentlessly until testing the 2259.25 bias-down signal was unable to attract new sponsorship. Overnight headlines were discounted overnight. The open bounced.

Not that momentum has reversed up. Unchanged around 2264.50 has held several tests as resistance. And not that a recovery is required. The open’s blip-down to 2260.50 didn’t touch the bias-down signal, so no offsetting test of the 2267.75 bias-up signal is required.

But the burden of proof was on sellers, and they offered none. Whether this morning or this afternoon, an actual rally through yesterday’s 2267.00 high is likely. And probably also through last week’s 2269.50 high and higher. Only exiting the bias environment under its bias-down signal would start to suggest otherwise.