Post-open Review… And then some.

Pre-open low fails to hold.

The choppy open has trended down, albeit with wide legs between its lower lows and lower highs. The 1995.00 low’s bounce to 2003.50 was retraced almost entirely before the open. Fresh lows down to 1990.50 reacted up to attack 2000.00, but that resolved down to 1988.50. Another bounce is now also failing.

Ultimately, the bias timing window has now lapsed into the bias environment. No prior high is recovered, let alone challenged. The bottoming potential has largely eroded.

One more line of defense is at 1987.00, and its success would be signaled by exiting the bias environment back above 1995.00. Otherwise, objectives under 1987.00 can be better measured in time than in price — like Wednesday morning, during which time a lot of damage can be done.