Post-open Review… Are they through, yet?

Gap down ultimately holds, eventually reacts.

Opening at the 2127.75 bias-down target and testing the 2126.25 overnight low was recovered up to 2130.50 on news. Its reaction down to a fresh low was recovered enough to hold 2127.75, and to avoid renewing the bias-down signal.

Not renewing the bias-down signal is the only bullish element of this morning’s open. And that’s not a very bullish element.

Ranging narrowed around 2127.75 into 10:30. Surging AFTER that has tested the 2133.50 bias-down signal by 1 point. It’s too late to trigger, to invoke the grace period, or even to invalidate the bias-down. When tested, the bias-down signal should define the range’s upper-end until the bias environment is at least within 10-15 minutes of lapsing at 11:30.

Currently, the 2133.50 test is holding. Probing above it could suffer the additional consequence retesting the 2129.00 10:15 print. The decline can resume anytime and be credible. A credible recovery should wait until coming within view of the bias environment lapsing.