Post-open Review… Sellers get another chance.

So did buyers. Sellers are exploiting theirs.

Yesterday’s session was replete with pessimism. Multiple rally attempts to trend down were recovered back into the range. So, that pessimism is ineffectual, not having gained traction for the effort.

But the pessimism was never rejected. Dips, once absorbed, never reversed back above a prior high. That was the caveat to today’s bullish potential.

It was also the caveat to this morning’s pre-open surge. At least the payroll reaction’s spike down was in-line with yesterday’s dips that had recovered. But already recovering it before the open also tracked the pattern of failed bounces.

So, testing 1908.00-1910.00 was reversed through the open back down to the 1895.75 pre-open low. And then lower to 1891.00. Bias-down triggered, and although its target was met already, that’s now extending to 1885.00.

Unless 1890.00 is recovered coming out of the bias environment, the drop’s next objective is 1873.75, and potentially a retest of Wednesday’s low down to 1962.75.