Bear regime, green day — that is the whole story. #OPEN just printed a strong after-hours bounce, but the regime model still tags this tape as risk-off, meaning rallies are being treated like inventory, not conviction. The tells are in the internals: momentum and price vs trend are tightly linked again, while volume is basically off doing its own thing — classic bounce behavior, not a turn. If you want to understand 2026, stop staring at headlines and start respecting regime: when the state stays Bear, strength gets sold 😈