Post-open review… Uncollected.

Opening dip delays rewarding yesterday”s recovery.

Trending still higher overnight did not qualify as rewarding yesterday”s recovery for having gained traction. The likely reward is to trend higher the following morning.

Which this morning surely has not.

The overnight rally to 2093.00 greeted the open at or under yesterday”s 2082.25 cash session close equivalent. That pullback tested 2075.25 three times before rallying back up to 2082.25.

Meanwhile, the 2077.75 bias-down signal was overlapped in time to invoke the grace period. Dipping to 2073.25 was nevertheless recovered to overlap 2077.75 at 10:30.

As warned during the pre-market Tour, anything signaling a bearish context this morning would be suspicious. So, this is a noN-bias environment — the bias-down target isn”t in-play, and neither is an offsetting test of the bias-up signal.

The backing-and-filling might have bottomed, but it may not be ready to resolve up. Not rewarding yesterday”s recovery this morning should then deliver that reward this afternoon. All of which assumes this morning”s bias environment isn”t exited in decline.