Post-open Review… Today’s stolen punchbowl count is 2.

Both a pre-open AND post-open rally fail.

The recipe to rallying this morning was to compartmentalize the overnight probe of the structure at yesterday’s lows. A pre-open dip to 2053.25 had injected a healthy dose of pessimism into the overly-optimistic overnight recovery. The 2057.00 opening print trended up to 2063.50 through the opening 15 minutes of volatility.

None of which prevented sliding back down to a fresh post-open low, piercing the pre-open low down to 2052.75.

This morning’s 2055.25 bias-down signal didn’t trigger, still being overlapped both at 10:15 and 10:30 to signal noN-bias. No requirement either to test the 2049.75 bias-down target, or for an offsetting test of the 2065.75 bias-up target.

Fresh lows would still be likely to test 2049.75, and a fresh low is now being probed down to 2051.50. Again, its test isn’t required during a noN-bias environment, and exiting the bias environment back above 2057.00 would still be credible for launching an afternoon rally that the morning’ open was pushing