Post-open Review… Into the air pocket.

Overnight slide extending sharply lower.

Surely, you don’t need me to tell you that the 2167.25 bias-down signal triggered. And you probably know already that its 2162.25 target was exceeded in time to renew the bias-down signal. You also know its renewed bias-down target is 2155.00. But you might not have known that it, too, was exceeded through 10:15 to renew the bias-down signal. And its renewed target is 2149.75.

2149.75 was initially only overlapped by the 2149.00 low. A bounce to 2154.00 returned down to test 2149.75  It has now broken lower to 2145.25.

Simultaneously oversold RSIs at the 2149.00 low are now followed by oversold RSIs at 2145.25. Any bounce is doomed to failure. And a Friday’s bias tends to persist through the noon hour. A test of the 2140.00 area could develop quickly,

Otherwise, back above 2153.00 is needed to trigger a corrective bounce targeting at least 2156.50, if not also 2162.26. And 2153.00 is a long way above.