Post-open Review… Extra pessimism.

Duplicating yesterday afternoon’s plunge.

The overnight bounce into the 2635.00-2638.00 area had not yet proved its sponsorship was strong-handed. A pullback into the earlier overnight channel barely hesitated before plunging through it to 2617.00. A close-quarters Double Bottom at the low told us to expect lower lows. Ranging sideways into the open did resume the decline, first a little and then a lot, down to 2594.00.

And now even more, as a brief bounce to 2601.00 resolved down to 2591.25.

This low is reacting up, not yet enough to reverse the trend up. But at least a corrective bounce would start to be credible back above 2600.00 (being tested now), targeting 2607.00. Recovering into positive territory would be difficult, and very unlikely… so, that much more substantial if actually done.

Meanwhile, the dominoes are falling. The next lower objective is 2588.00, and under 2584.50 would have little hope of avoiding the longstanding objectives at 2509.00-2511.00.