Post-open Review… Back so soon.

Probing into last week’s range below.

The open’s make-or-break seems to have broken. A narrow pre-open consolidation quickly extended down under 1911.00 to test 1904.50. That broke lower to 1901.25, a little short of its potential to the 1900.00 area.

Back above 1905.50 could begin a corrective bounce up to 1911.00 and 1915.00. Otherwise, the 1900.00 area could be probed down to 1886.00 before signaling a much bigger decline underway.

And a much bigger decline would be to probe under last week’s lows, resuming the prior downleg. Testing 1900.00 and 1886.00 can be avoided by a bigger bounce. But the bigger bounce must be productive going into the noon hour to be credible.