Post-open Review… Holding up, but not heading up.

Choppy sideways ranging trying to break lower.

The overnight rally first tested 2634.00 3-1/2 hours before the open. Its reaction down and two slightly higher highs were interrupted by dips to 2626.00-2627.00. One more fresh high through the open attacked 2640.00, and also dipped to 2626.00-2627.00.

Then deeper.

The last reaction down has extended to test 2620.00. That was the first consolidation of Friday afternoon’s break under its morning lows. And this is the first probe under 2626.00-2627.00 in more than 4-1/2 hours. It is a big decision point:

Maintaining this morning’s open back above Friday morning’s lows had formed a sort of Isolation setup. Maintaining this break back under those lows would invalidate the setup, and its recovery attempt. But recovering those lows through the bias environment exit would maintain the Isolation setup, and potential for fresh highs today.