Post-open Review… For old time’s sake.

Last week’s reversal bleeding into this week’s open.

Without yet trending back up above a prior high before the weekend, last week’s rally had potential for bleeding into the new week. After making its imprint, a recovery remains possible. Potential for a recovery remains alive thanks to Sunday night’s opening surge.

Sunday night’s opening surge wasn’t outright bullish. Neutralizing the 2091.00 objective above has been the recovery’s worst development. Its reversal down to 2074.00 was recovered to attack 2086.00, which has also proved unwise.

All of that overnight optimism hasn’t just failed to gain traction intraday — it hasn’t been repeated intraday. Post-open action has only trended down, in a series of lower lows and lower highs.

Fresh lows are being probed down to 2072.50. The 2071.50 target would fulfill the 2080.25 bias-down signal’s selling pressure. Resolving any bounce lower would next target 2067.00-2069.00. Rallying from either target could recover all of the overnight drop from 2091.00.