Post-open Review… Getting in a little exercise.

Aggressive dip holds the range.

Bouncing since Europe’s opens had retraced 61.8% of the overnight slide, hovering there until the open shook price loose. Almost immediately sliding nearly 4 points to test 2501.00 was unable to recover. Then a steeper slide of more than 5 points tested 2497.00.

All of which developed during the first half-hour. Price action since then has ranged choppily under the 2500.00 bias-down signal, which triggered. The 2493.25 bias-down target is in-play.

The opening low was just retested while RSIs made higher lows. Higher oversold lows, which still require a retest despite currently bouncing. The bounce is testing the 2500.00 bias-down signal as resistance, and has room to probe above it without suggesting momentum may be reversing up.

The open’s slides seem to have been knee-jerk reaction to headlines of important announcements to be made by important people, implying escalation of the N. Korea situation. The bounce seems to be in reaction to a headline specifying those announcements would regard sanctions, presumably not anything militaristic.

This sort of behavior is typical for today’s lower volume session. A catalyst can be productive, but only for so long if not followed by another catalyst. And another catalyst is probably the only way today does more than retest yesterday’s 2494.00 low, the 2493.25 bias-down target, or room for noise down to 2490.00.