Post-open Review… Trying, so trying, again.

Open’s surge reverses down hard.

Yesterday’s gap up had immediately plunged and was almost as quickly recovered. That didn’t extend higher intraday, but neither did the open’s drop resume.

This morning’s open gapped up a little, and then surged momentarily to touch the 2269.25 bias-up signal. That reacted down, too. A little later than yesterday, and less aggressively. But almost all of the recovery from yesterday afternoon was retraced.

Both drops come from probes above prior intraday highs. This creates room to expend selling pressure before it can damage the recovery potential. Yesterday, that prevented reversing the trend down.

It’s no easier to reverse the trend down today — but it can still be tried.

An offsetting test of the 2261.50 bias-down signal is already satisfied to within 3 ticks. Probing under it during this window would be “no-bias trending” that requires recovering, if not also back to the 2264.00 10:15 print. Probing under it after the bias environment begins lapsing would not require any recovery, and could extend down to test 2248.50.

Meanwhile, back above 2265.50 would start to signal that the post-open drop would be recovered. And recovering a second consecutive post-open drop would still likely rally to new highs.