Post-open Review… Who’s Pavlov, and who’s his dog?

Early enthusiasm turns skittish.

The overnight rally had probed this morning’s 2425.25 bias-up signal up to 2426.75. Its pullback recovered through the open to fresh highs at 2428.25.

But the opening 15 minutes of volatility lapsed while the pre-open high was still being overlapped. Not recovered. Also not rejected, but that came anyway as price slid to 2418.50.

The gap back down to yesterday’s 2416.75 cash session close wasn’t filled. The offsetting test of this morning’s 2414.75 bias-down signal wasn’t fulfilled. And the past half-hour has been fluctuating around unchanged.

A bigger bounce is possible, but lower lows remains likely. And lower lows that aren’t quickly recovered would more likely extednd down through the afternoon.