Post-open Review… Creatures are stirring, all over the house.

Post-open drop extends the decline, before being recovered.

Overnight action had resumed the decline, rejecting the overnight bounce. Friday’s 2409.25 low and the 2401.00 Globex open were probed down to 2390.75. Bouncing back above Friday’s late low to 2414.00 resolved down through the open.

Sharply. A blip-up to Friday’s 2409.25 low collapsed down to 2368.00. Which is already within 7 points of the decline’s next lower objective at 2345.00-2361.00.

Now a bounce has recovered it all — all of the post-open drop, up to a fresh post-open high at 2412.50. Back under 2400.00 would start to signal the bounce failing.

The bearish WedEX makes the bounce likely to fail, and the morning likely to trend back down. Holiday factors make today a wild card, and the WedEX less reliable. Just closing in negative territory would satisfy the bearish WedEX, but a more bearish production than that would still be appropriate.

But the wild card may have absorbed sellers already. Surging off of the lows is an example. Back above 2309.25 again could trigger a more substantial rally leg, but the morning remains vulnerable to another downdraft.