Post-open Review… Quicksand again?

Selling satisfied, not rejected.

If this morning were to be about backing-and-filling this morning, instead of about retesting overnight highs, then its start was likelier to be aggressive.

And it was. The 2163.75 overnight low was retested during the first 5 minutes. And a downtrending channel formed through the opening 15 minutes.

Breaking lower fulfilled the 2158.00 bias-down target at 10:15, just as the 2163.75 bias-down signal was triggering. There’s no grace period for renewing the signal, so this is a bias-down environment whose target has been met.

Simultaneously oversold 1-minute and 3-minute RSIs at the low require its retest, potentially down to 2156.00 without signaling a deeper drop underway. Back above 2161.50 at any time would start to signal momentum already reversing up.

2158.00 represents the same area as last Tuesday’s session-long quicksand struggle. So, exiting the bias environment in rally mode may be necessary to avoid a deeper drop. And the reward may be to retest overnight highs already today.