Post-open Review… Tough crowd.

Pre-open pullback temporarily recovers.

The gap back up to yesterday’s 2185.50 cash session close was likely to be filled, regardless of its resolution. Regardless of post-open weakness, the gap was likely to be filled, if not also probed, since yesterday’s late surge to 2186.25 had not been rejected overnight. That would still be vulnerable to reversing down.

Actually, a shallow post-open dip to 2181.50 was recovered to only touch 2185.50. That didn’t stretch the rubber band very much, and its reaction down was limited to 2-1/2 points, then recovered to fresh highs at 2186.75.

There was room for extending up to this morning’s 2179.00 bias-up signal, just as noise. Regardless of the upside potential, there has been and continues to be a greater vulnerability to reversing down.The closest thing to a requirement was to neutralize the attraction up to 2185.50. Done.

In fact, now an even bigger reaction down just touched the 2181.25 post-open low. Any lower would likely target a test of the 2177.75 bias-down signal. Exiting the bias environment back above yesterday’s 2183.50 could marginalize sellers for the day.