Post-open Review… Anchoring.

Consolidating under yesterday’s lows.

One final attack on the 2434.00 overnight high one hour before the open was enough. Fresh lows post-open were likely, so the selling resumed. Sliding into and out of the open greeted it at the 2426.25 bias-down signal, and extended down to 2419.50. The 2421.00 bias-down target was influential along the way,

A bounce attacked 2428.00 and almost rejected both bias-down parameters. The grace period was invoked, but not exploited. This is a lat4e bias-down environment.

Already having tested the 2421.00 bias-down target its retest isn’t required. By the same token, being a bias-down environment, the bias-down target need not support the range’s lower-end. I would still expect a break lower at any time to extend. The next lower objective is 2411.75.

Otherwise, hovering at, under or around the 2426.25 bias-down signal until the bias environment begins lapsing could still rally. It’s not likely, especially without the hovering. Also, this afternoon’s bearish WedEX suggests otherwise, too. But nothing on expiration Friday protects against counter-trend moves, no matter how temporary they may prove.