Post-open Review… Treading underwater.

Open’s rally holds resistance.

The 2709.00 overnight low had recovered to touch this morning’s 2722.00 bias-down target before the open. Dipping to 2713.50 had recovered to greet the open at 2720.50, on the way up to 2732.25. The opening 15 minutes of volatility had trended up, keeping alive potential for a bullish WedEX influence.

The bullish influence seems limited to that opening rally. Trending down through 10:15-10:30 triggered the 2729.75 bias-down signal. Its 2722.00 bias-down target held to avoid renewing the bias-down signal, but this is still a bias-down environment. The 2722.00 bias-down target is being tested down to 2718.00, and up to 2724.50.

Back above 2726.00 would be credible for signaling the post-open dip was absorbed. The minimum reward would be fresh session highs. Meanwhile, there’s risk of probing fresh lows, and the next lower objectives would be to retest the 2709.00 overnight low on the way down to 2701.00.