Post-open Review… Detour and delay.

Open retesting overnight low.

Last night’s pullback to 2904.00 had recovered after Europe’s opens, retesting Friday’s 2911.25 close. Its reaction down was recovered to 2910.25 through the open. But its touch reversed down sharply, and has extended lower to 2903.50.

Meanwhile, this morning’s 2907.00 bias-down signal triggered cleanly, putting into play 2900.25. Back above 2908.00 could trigger a premature recovery attempt, which is unlikely.

The bullish scenario largely depends on fulfilling 2900.25 sooner, rather than later. That would allow time to start recovering into a late-afternoon rally. RSIs haven’t even gotten oversold, yet, and a bottom probably doesn’t happen without sellers breaking at least a little sweat.