Post-open Review… Weak base.

Post-open dip holds lower levels long enough.

Down, down, down. Overnight action already had neutralized the “unfinished business below” at oversold RSIs from yesterday’s 2703.75 low. Lower lows before the open fulfilled more unfinished business below at yesterday morning’s 2702.25 no-bias parameter. This morning’s 2698.75 bias-down target was also tested before the open.

The open blipped up to 2702.25, then reversed down to fresh lows at 2692.25. Down.

The 2698.75 bias-down target was recovered just in time to avoid renewing the bias-down signal. Downside momentum became questionable, especially with attractions below had been neutralized. But their breaks were maintained through the open to indicate the trend is reversing down.

Maintaining a dip through a relevant window doesn’t prevent a bounce. An entrenched downside can encourage a bounce as a temporary correction. Bouncing this morning to 2703.50 might be one such temporary correction. Unless it recovers this morning’s 2705.50 bias-down signal — preferably as the bias environment lapses — then the trend remains down.