Post-open Review… Scale model.

Is post-open action a smaller version of the bigger pattern?

Firming up to 2563.25 greeted the open at the 2561.50 bias-up signal. An eventual break higher retested the pre-open high, briefly. Then price started slipping, and slipping.

Yesterday’s 2557.50 high was just tested as support. Along the way down, bias-up failed to trigger at 10:15. An offsetting test of the 2550.50 bias-down signal is now in-play.

Reacting up to 2560.00 stopped short of even threatening to invalidate the bias-down signal. But the reaction also prevented the first hour from extending its slide back into yesterday’s range. The burden of proof is now on sellers to resume the decline before the bias environment begins lapsing. The slide is likelier to resume later.

Meanwhile, backing-and-filling just attacked 2563.00, within the context of being a corrective bounce (after 10:30, so it’s too late to invalidate the no-bias signaled at 10:15). Back under 2561.00 would start to signal the bounce has failed, and is resolving down. Probing any higher would be “no-bias trending” and doomed to failure.