Post-open Review… 24-hour bug.

Quickly fulfilled objectives can inhibit new sponsorship.

The template we discussed during the pre-market Tour had indicated the 1908.00-1914.00 consolidation was not a bottom. Probing several points under its low was likely. A bigger picture objective had determined already that the next lower objective under 1918.00 was 1899.00. Back above 1916.25 would have signaled a corrective bounce, but 1899.00 was in-play.

The open did blip-up to 1916.25. But only to touch it, expending literally as much buying pressure as was possible to gain without yet gaining traction for the effort. Its reaction down was relentless until touching 1092.50. Reacting up to 1909.75 has resolved down to within 1 tick of 1899.00.

The resumed downleg has formed a Falling Wedge, with room for noise back up to the 1906.00 area. Having plunged into the wedge, its resolution may plunge again. The next lower objective under 1899.00 is 1884.50.

Regardless, containing a low during this morning’s bias environment — recovering this afternoon without probing lower — would likely form a durable bottom. Still probing lower lows this afternoon would suggest a difficult weekend ahead.