Post-open Review… Reinforcements have arrived.

Opening uptick meets post-open slide.

Intraday action hasn’t been very remarkable, at least not in terms of point-range. But the structure is very revealing.

Gapping down immediately bounced as was suspected. And as expected, that was only temporary before reversing down to fresh lows. Although not yet put into play by the bias timing window, the 2086.50 renewed bias-down target was touched.

RSIs diverged positively on the retest of 2086.50, and a subsequent retest has launched a bigger bounce to new intraday highs testing the 2093.25 bias-down target as resistance.

Hope springs eternal, that’s how sellers are refueled in a persistent downtrend.

This being a Friday, the morning’s bias signal should persist through the noon hour. Bouncing much during a bias-down environment could find buying pressure depleted just when it would have had more impact, entering the afternoon.

Anxiousness into two days of illiquidity probably exacerbated the open’s selling pressures. Holding a test of the 2086.50 renewed bias-down target indicated that selling pressure was satisfied. A big bounce will bring those two days come back into focus.