Post-open Review… Still in the brink.

Open’s test of unchanged pauses the recovery.

The overnight drop’s recovery had rallied 15 points up to 2861.00, and still had time for an 8-point pullback. And that was already recovering to greet the open at 2859.00, on the way up to unchanged at 2863.50.

Unchanged, and also a 61.8% retracement back up to yesterday’s high. Natural resistance, and it resisted. Another pullback tested the 2857.75 bias-down signal. Twice.

But as expected, a bigger bounce is likely. Holding the bias-down signal’s test has put into play an offsetting test of the 2866.25 bias-up signal (now being attacked to within 3 ticks), probably up to 2867.00, potentially up to 2869.50. Back under 2860.00 would start to signal the bounce was done.