Post-open review… So, you’re saying there’s a chance.

Bias-down parameters almost rejected. Which means, not.

The 2104.25 open soon resolved down to probe a couple of times under 2097.00. The probes stopped optimistically short of touching last week”s 2096.00 low — which is potentially bearish from a contrarian perspective.

We can dismiss those impatient buyers, since the overnight low had probed much deeper. And not exceeding the bias–down target through 10:15 avoided renewing the bias-down signal.

It”s not an optimal low. But that didn”t prevent a buy signal at 2101.50 from extending to 2106.50. Of course, 2106.50 is this morning”s bias-down signal, and it wasn”t recovered through 10:15 or 10:30.

So, this is a bias-down environment. That hasn”t prevented extending higher to 2108.75. But it is a “bias-down rally,” which must be retraced to at least 2106.50 when the bias environment begins lapsing.*

(*A dip is retracing now to 2106.50, but this is too early to complete its retracement.)

Back under 2104.25 would start to signal the recovery potential was done. Bottoming optimistically short of touching last week”s low, and rallying impatiently — not to mention bias-down rallying — all would combine to make the decline likely to extend. Otherwise, successfully navigating the bias environment”s exit still has that narrow window to become a new rally leg to new highs.