Post-open Review… Silencing sellers.

They waited, they pounced, they failed.

The overnight sideways range did break, in reaction to an econ report (GDP) at the end of the pre-open 60-90 minute window. GDP rarely influences price action, let alone triggering a 7-point surge to 2932.00.

None of which changes the setup of a sideways overnight range’s 60-90 minute breakout being likely to retrace. Which dropping through the open did, back to its 2926.50 upper-end and through it to touch the 2920.50 bias-down target.

A bounce tested the 2924.50 bias-down signal in time to invoke the grace period, which was recovered in time to trigger late no-bias. Offsetting tests of both bias-down parameters is in-play, 2934.00 and 2940.75. Being a late no-bias, neither objective would become “unfinished business” if left outstanding.

Meanwhile, this being a Friday, a failed trending attempt tends to marginalize its sponsorship. And Friday morning bias signals tend to persist through the noon hour. The bounce has tested and retested 2929.75, and holding 2925.25 as support would suggest sellers’ influence is done, and the session is vulnerable to trending up.