Post-open review… Trapping more longs.

Early buyers found out the hard way.

Overnight patterns can influence only the first 15 minutes of the cash session. So, if the pre-open Symmetrical Triangle”s second surge were going to fail, then it would be obvious quickly.

Naturally, the open blipped-up a couple of points to 2115.00. But then, sellers took obvious control, reversing down to test 2108.25. Recovering that through 9:45 would have marginalized sellers, but overlapping it meant nothing more than buyers failed.

Resolving down tested the 2104.25 bias-down signal. Its reaction up only attacked 2112.00 before resolving down again to 2100.25. This is a bias-down environment, triggered under 2104.25.

Having probed fresh lows after 10:15, nothing short of exiting the bias environment at 11:30 above 2115.00 can invalidate the bias-down. Friday”s ineffectually optimistic lows have been probed, but they”re still putting up a fight.

The 2098.50 bias-down target is in-play, probably on the way to probing last week”s 2096.00 lows by at least 2-3 points. A bounce has potential to 2106.50-2108.25. Back under 2101.50 (being tested now) would signal the decline had resumed already.