Post-open Review… Stop and start selling still stopping and starting.

Late attempt to drop is recovered, for awhile.

Bouncing out of the overnight range to greet the open unchanged had required sellers to be immediately obvious. That is, the optimal sell-off would begin post-open without delay. The alternative couldn’t prevent an attempt, but it wouldn’t be very credible.

In fact, the open surged 3 points to touch 2130.00. And then it quickly reversed more than twice that to test this morning’s 2123.25 bias-down signal down to 2120.75. It held, eventually triggering late no-bias, putting into play an offsetting test of the 2132.25 bias-up signal.

The delayed influence cuts both ways. Not preventing the open’s surge before reversing down had made us cautious toward the reversal. Similarly, not maintaining the open’s surge is undermining buyers. Bouncing to within 1 point of the open’s high has reacted down more than 6 points to retest the 2123.25 bias-down signal.Quickly recovering 2123.25 back above 2124.50 could avoid delaying the bias-up signal’s test, which would be confirmed back above 2126.25. Otherwise, more selling pressure would still likely be limited to attacking overnight lows.