Post-open Review… New blood.

Open’s firming only delayed the inevitable.

A morning rally had to be obvious immediately post-open. Firming 2-3 points immediately from the 1931.00 open actually wasn’t too shallow. And its reaction down to 1928.00 recovered even more immediately to a higher high.

But rallying immediately should at least rally eventually, and there were no more bites left at that apple. Another dip’s recovery up to 1935.75 got a benefit of the doubt so long as its tight pullback limit held, which of course it did not.

Price action since then has slid relentlessly, now testing 1920.50 on simultaneously oversold 1-minute and 3-minute RSIs. And why not? The next lower objective under 1938.00 remains 1918.00 — with room for noise around it beginning at 1919.00 and stretching down to 1916.50.

It’s still possible this selling pressure is artificially exacerbated by the fast-approaching Yom Kippur illiquidity. We’ll monitor that area for any bottoming and reversal setups, which could be very productive through the balance of the session. But under 1915.00 would target 1899.00.