Post-open review

This is going to leave a mark.

The overnight drop blew through its 2044.00 likely objective to test the room for noise under it down to 2041.00. That extra blip (actually, to 2040.00) as in reaction to earnings misses. Its reaction up consolidated, but GDP didn”t help.

Eventually, Sunday night”s 2025.25 low was being retested, too. That”s a long way off from yesterday”s 2055.00 post-close high. 

2055.00 was already a long way off from Sunday night”s 2025.25 low. But the return developed faster. And now also deeper, with 2013.25 tested, and potential to 2008.00.

The open”s 2021.50-2029.75 range didn”t break lower until AT 10:30. Its break is still credible, but its potential to 2008.00 or to any fresh low would be invalidated by recovering enough of the open”s range as the bias environment begins lapsing at 11:30.

In fact, the bounce from 2013.25 is attacking the opening range”s 2121.50 lower-end. Delaying its rejection could gain traction above 2024.50 and 2026.25 to reverse momentum higher through the afternoon.

Otherwise, back under 2016.50 would resume the decline, with next support at 2011.00, and targeting at least 2008.00.