Post-open Review… Friday factors bearishly.

Weak attempt to isolate sellers has marginalized buyers.

Probing lower overnight at least touched the upper-end of the 2372.25-2373.75 objective. This created an opportunity to reverse momentum up. But the open needed to have recovered already back into Thursday’s range.

Isolating sellers to the overnight that way would have allowed a rally this morning. Not trying to isolate sellers still could have rallied, perhaps by holding a test of the bias-down signal.

But trying to isolate sellers and failing has only marginalized buyers. The open’s blip-up to resistance at 2181.50 resolved down to test the 2378.50 bias-down signal. The grace period it triggered resolved down to attack the overnight low.

Now another bounce is starting to resolve down. The 2372.25-2373.75 objective’s lower-end is also this morning’s bias-down target. Lower objectives would be put into play at 2368.50 and 2364.00 if the bias-down target fails to hold.