Post-open Review… Retraced, but not refreshed.

Actual intraday recovery holds on.

Bounce after bounce after bounce overnight repeatedly recovered yesterday’s late 6-point drop under its 2790.00 sell signal. Each bounce was followed by another drop. So many bounces and recoveries that the setup’s likely intraday recovery (for having originated so late) could have been dismissed. But, no need for that, since the last overnight dip was also recovered to open back above 2790.00.

Which once again stopped recovering. But unlike the repeated overnight drops, the post-open reaction down was limited to 2786.00. That’s natural support at yesterday’s close, and it has held.

This morning’s 2790.25 bias-up signal also held as resistance, putting into play an offsetting test of its 2782.00 bias-down signal. Having invoked the grace period at 10:15, no-bias triggered late. Without yet producing a fresh post-open low, its downside objective can be invalidated by exiting the bias environment at fresh post-open highs — at least, above its bias-up signal.

A fresh high post-open high would likely also retest yesterday’s 2794.25 high. Otherwise, the downside objective would become “unfinished business below,” likely to attract more selling pressure.