Post-open Review… Shutting down sellers.

Single-minded overnight slide evaporates.

A post-open dip tried to retrace a pre-open bounce by probing 1 point under 2091.50. Its break would have indicated momentum reversing back down. But its test was isolated to the session’s first 5 minutes, every one of the test’s bars still overlapped 2091.50, and their 3-minute low was never pierced.

Sellers failed to regain control. Another dip from a higher high held another test of 2091.50. It was even more brief and shallower before recovering to another higher high.

Both dips avoided touching the 2089.50 bias-down signal. An offsetting test of the 2098.50 bias-up signal was never put into play. Nevertheless, 2098.50 is being tested now.

This is still a no-bias environment, so 2098.50 is likely to hold its test, or at least to define the bias environment’s upper-end. Probing above it would be doomed to failure, required to return down to 2098.50, if not also to 10:15’s 2094.00 print.

Probing above 2098.50 could even extend above yesterday’s highs. That would be doubly doomed to failure for its inappropriate origin, and for fulfilling yesterday afternoon’s traction. Otherwise, a contained bias environment that isn’t exited under the open’s lows would still be likely to probe higher this afternoon.