Trapped shorts, or else trap door.

Trying to recover the post-open drop.

The opening drop extended lower despite not renewing the bias-down signal under its 2089.25 bias-down target by 10:15. Support was tested at 2082.00, which was the shallower speculative retracement of Wednesday”s opening sentiment. Signs of impatient sellers had made a bounce there likely.

Its 9-point bounce probed above the 2089.25 bias-down target. Exiting the bias environment above it would have confirmed this morning”s sellers are weak-handed.

That”s not happening.

Entering the noon hour under this morning”s 2089.25 bias-down target doesn”t confirm this morning”s selling pressure is weak-handed. It leaves the door open to extending the drop this afternoon. That would target the gap back to Tuesday”s 2072.00 close, and potentially another 10 points lower.

Instead of extending down, the noon hour could still probe fresh post-open highs up to this morning”s 2095.75 bias-down signal. That would still allow the afternoon to rally, and to probe above yesterday”s 2106.75 high. But the burden of proof is on buyers.