Post-open Review… Wad blown.

Overnight highs never retested.

Firming off of 2370.00 had greeted the Employment Situation report. Its reaction surged to 2376.25. Drifting into the open still gapped up to 2373.50. But that was quickly extended down 6 points to 2367.75.

Which is still a bias-up.

Actually, the open had been retraced up to 2374.00 before 10:15. The 2370.75 bias-up target was also exceeded to renew the bias-up signal, next targeting 2377.50.

Which hasn’t prevented dipping deeper.

The 2365.75 bias-up signal was itself tested, and now retested by 1 point. “Counter-bias trending” is doomed to failure for originating during a bias-up environment. Meanwhile, there’s room down to lower prior highs and a gap in the 2361.00-2363.00 area.

Back above 2368.25 would start to signal momentum reversing up, which could extend through the noon hour.