Post-open Review… Looking forward to – or out for – the weekend.

Fresh pre-open lows lead circuitously to fresher post-open lows.

The overnight dip attacking 2695.00 and consolidating around 2701.50 had broken lower to 2684.50 far before the open. An isolation setup became impossible. Alternatively, the open began tracking a path I had outlined during my live pre-open update in the chaRTroom — blip-down, then reverse back up into a morning-long rally. Otherwise, sharply lower lows would be likely.

The post-open blip-down barely touched 2680.00-2681.00 support before reversing back up. The opening 15 minutes of volatility got to 2693.00. Reacting down to attack 2684.00 was too deep, already signaling momentum had reversed down. And undoing the recovery template.

Until it didn’t. And then until it did, again.

Another upleg nevertheless tested 2698.00. Despite coming after the last retracement, extending almost any higher would have reinstated the recovery template. But as if to compensate for the detour, those sharply lower lows came fast, sliding 25 points to 2672.50.

So long as 2680.00-2681.00 isn’t recovered, the trend remains down. An important support will have been broken. A test of 2652.00-2653.00 would be all but required. Back above 2680.00-2681.00 could otherwise be the last opportunity to prevent trending down even deeper into and out of the weekend.