Post-open review… Starting the end?

Post-open dip recovered entirely. Pre-open dip, not so much.

The overnight slide to 2065.00 had formed a Descending Triangle which was presumed to be preparing a break lower. Which it did, pre-open, to test 2062.00. Momentarily firming into the open was rejected by a deeper plunge to 2056.50.

A bounce there was retraced entirely back to the 2063.50 opening print before the first half-hour had ended. That price action qualified as an early recovery attempt. The recovery has since retraced the pre-open Descending Triangle”s 2069.00 high.

The continued recovery has formed an uptrend of higher highs and higher lows. All of which remains in negative territory. Recovering above the open this early doesn”t leave much room for another dip without resuming the decline.

Back above the 2071.75 bias-down signal would get a big benefit of the doubt that the trend is reversing up — at least for near-term bottoming to form. Entering the noon hour back under 2065.00 and 2063.50 would suggest the decline never ended, and that 2051.00 is in-play.