Post-open review… But, wait, there’s more.

Overnight drop resumes, extends through the open.

S&Ps were trading in lockstep with Europe. Firming to 2100.00 into Europe”s firm opens was rejected to fresh lows at 2095.00 when Europe”s opens stumbled. Their stumbles were recovered, so S&Ps recovered, too, to 2101.00.

But that recovery melted away, to fresh lows testing 2092.00. The open”s 2-point bounce stopped short of triggering a 2094.25 buy signal, and extended down to test 2087.00. Its 6-point reaction up has resolved down 7 points to 2083.50.

The 2089.25 bias-down target wasn”t yet broken by 10:15 to renew the bias-down signal. This is still a bias-down environment that need not recover from extending down. But delaying the extension down until after 10:15 is often weak-handed sponsorship, and recovered.

Back above 2088.25 would start to signal the extension”s sponsorship is weak-handed, and that it has been absorbed to reverse back up. Otherwise, the next lower attraction is Wednesday”s 2079.50 opening print.