Post-open review… Reinforcing pessimism.

Another opening surge is reversed, but much more quickly.

The opening print essentially was this morning”s 2083.50 bias-down signal. Its inflection surged to attack 2090.00. That was similar to yesterday”s opening action, which I had noted this morning would not be credible for extending higher.

And it didn”t.

Reacting back under 2088.00 triggered a sell signal targeting a retest of the 2083.50 bias-down signal, at least to within 3 ticks. Its test extended down to the 2076.00 bias-down target.

And that was all before 10:15.

The bias-down target wasn”t broken, so this is a bias-down environment, whose target has been met. That doesn”t prevent extending down, but extending down is less likely — because it happens only occasionally after having held its test through 10:15.

The 2076.00 bias-down target was just retested. Back above 2080.00 (being probed now by 2 points) would start to signal the bias-down target”s retest had held, and that momentum may be reversing up.

There”s an interesting similarity between this morning”s open and all of yesterday”s pattern. Repeating yesterday”s optimism suffered the same consequence, but much more quickly. Exiting the bias environment back above the 2083.50 bias-down signal and above 2084.50 — not just holding the bias-down target — might be enough to resume the rally. THE rally.