Post-open review… Different bat time, different bat channel.

Post-open action duplicates Globex open. Mistake.

Sunday night”s gap down immediately extended lower, and just as immediately began recovering. Overnight action is one big uptrend from 2054.00 to 2079.00.

That was the pattern that on Saturday I cautioned against forming post-open. Tracking it overnight made it all the more bearish to duplicate intraday.

Post-open action did it, anyway. While the preliminary 2073.00 level did hold as support, the opening 15 minutes of volatility trended up. And while the critical 2080.00 level was probed, the 2082.25 bias-down target was touched as resistance.

The consolidation off of 2082.25 was overlapping 2080.00. But the bullish scenario calls for a consolidation SUPPORTED by 2080.00. We can”t dismiss the under-performance, but we can keep the door open:

Rallying above 2080.00 after the top of the hour would be credible for extending higher. Exiting the bias environment above 2082.25 would be credible for extending higher.

This morning”s action could marginalize sellers by not recovering from a dip to 2071.75, but there would be no predictable path down, only the likelihood of retesting the overnight low and extending the decline.