Post-open Review… Still fallen.

Pre-open rally is retraced.

Trending down into and out of Europe’s opens had tested 2683.00. It was recovered before the open to fresh overnight highs testing 2698.00. That’s positive territory, and it could have launched a morning rally… if maintained.

It wasn’t. And it didn’t.

Already dipping to fluctuate around unchanged, the open was essentially flat with yesterday’s 2692.00-2693.00 close. The open trended straight down from there. The overnight low has been retested to within 2 ticks of the earlier 2683.00 test.

The 2688.00 bias-down signal triggered along the way, targeting 2681.75. There’s no assurance of it being met within first detouring into a corrective bounce — there’s no assurance of it being met, at all, only a likelihood. Back above 2691.00 would start to signal a much bigger detour up underway. A bounce is now testing 2688.00 as resistance, too late to invalidate that it triggered.

Meanwhile, trending through the open on expiration often establishes the session’s trend. And Friday morning’s bias often extends through the noon hour. Then comes the bearish WedEx’s afternoon influence. None of which require the slope to be any steeper, but any of which suggests that bounces will fail.