Post-open review… Sliding back up the cliff?

Pre-open bounce refueled sellers.

The pre-open bounce extended to 2080.00. It immediately improved another 2 points post-open, but was being reversed 10 minutes later. That reversal extended to within 4 ticks of the bias-down target.

A 6-point bounce was reversed to within 2 ticks of the 2070.25 bias-down target, which is close enough to neutralize its attraction. So, although the 2075.50 bias-down signal triggered after invoking its grace period, the bias-down target won”t become “unfinished business below” if not actually touched by 11:30.

Just touching the 2070.25 bias-down target would be likely also to probe the overnight lows down to 2067.50. But, what if 2070.25 isn”t actually touched?

Back above 2076.00 (being tested now by a 7-point bounce) would start to signal momentum reversing up already. Although it”s not the optimal recovery path, exiting the bias environment at 11:30 above 2082.00 and higher would be credible for reversing intraday momentum up.

Otherwise, back under 2074.25 would start to signal the 7-point bounce had failed, targeting new session lows at 2067.50.