Post-open Review… Stuck in neutral.

Bearish WedEX preventing rally, at least.

Rallying into the open had recovered back into positive territory. But the 2667.00 open ticked down relentlessly throughout the entire opening 15 minutes of volatility to test 2668.00. That also tested the overnight lows, which were likely to extend down more substantially before recovering. Still are.

Meanwhile, a couple of bounces have extended to test 2676.00, but the 2675.50 bias-up signal didn’t trigger. This is a no-bias environment. And having held a test of the bias-up signal, an offsetting test of the 2665.50 bias-down signal is in-play.

Like the overnight dip, post-open dips are stopping optimistically short of their potential. Or, as is now the case, short of their objective. Being a no-bias environment, this morning is unlikely to trend down. But the 2665.50 bias-down signal can break lower as the no-bias environment starts lapsing.

So long as sellers remain in control this morning and don’t allow a recovery above the 2675.50 bias-up signal, the balance of the morning is likely to remain under pressure. And although the bearish WedEX influence ends with the bias environment, trending down further remains possible — if not likely.