Post-open Review… Vidi, veni, evacuate.

Pre-open drop fails to hold its probe under prior lows.

Sellers threw a lot of stuff at the open. They haven’t been rejected, but they failed to complete a bearish setup.

Testing the rally’s 2150.00 objective overnight had reacted down to 2144.00 and 2142.25. The open only deteriorated further by extending down to probe 2 ticks under yesterday’s 2140.50 low.

That also included a test of yesterday’s 2143.25 bias environment low. Having trended up into yesterday’s cash session close, maintaining an open under 2143.25 could form a “session-long decline.” Also breaking under yesterday’s session low would be extra confirmation.

This was all the open’s sellers could bring. Probing under both prior lows was recovered at 9:45 back up to 2144.00, and then up to 2145.75. No-bias was triggered, having avoided a break under the 2141.25 bias-down signal. Having actually tested the bias-down signal before not triggering it, an offsetting test of the 2148.00 bias-up signal is in-play.

That didn’t prevent a drop back to within 1 tick of 2141.25, just before 10:30. Any lower any later would have invalidated the no-bias signal. That was avoided, and back above 2143.75 should launch the next recovery leg. But be careful under 2141.25 (being tested now) in case a deeper detour is underway.