Post-open Review… The search for buyers.

Pre-open bounce fails to attract post-open buyers.

The pre-open drop to 2072.00 was recovered pre-open up to 2087.50. Like the overnight rally — and like recent overnight and pre-open rallies — that cycle forced the open to defend against another pullback.

Defenses were down.

Opening at the 2082.00 bias-up signal was reversed down to the 2076.50 and through the 2071.50 bias-down target. The 10:15 bias timing window was testing the renewed 2066.25 renewed bias-down target.

And holding.

This is still a bias-down environment. And spending more than several minutes probing a fresh low would likely become a new downleg targeting 2051.00.

Meanwhile, a lot of selling pressure has been expended. Even this morning’s most bullish scenario can be limited to 2075.00 or 2079.75. But that’s the scenario that would open the door to a bullish afternoon.