Post-open review… Reconditioning those overnight optimists.

Second consecutive overnight rally is rejected.

The pre-open uptick touched yesterday morning”s 2068.50 bias environment low, and began reversing down sharply at the open 1 minute later.

Yesterday afternoon”s ~2060.75 bias environment high was still being overlapped at 9:45. That didn”t qualify as gapping up above it, or as rejecting the gap up above it. The potential “session-long rally” and the potential for its rejection are moot.

Meanwhile, the post-open reaction down extended to 2055.50. A consolidation has formed just under this morning”s 2059.00 bias-up target. Exceeding it through 10:15 would have renewed the bias-up signal. Its renewed target is met already, but that would have undermined sellers.

Still, this is a bias-up environment. Or, is it? Whatever was indicated by recovering the 2053.00 bias-up signal through 10:15 can be negated by breaking under it through 10:30. Otherwise, its support should define the next hour”s lower-end if tested.