Post-open Review… Split personalities.

Early sellers were also late. Early buyers are already rewarded.

The open was greeted by two setups. A bearish Globex-flip was opening back under the earlier Globex low after having probed above yesterday’s high. And a Too-late Globex breakout had just begun probing under the earlier overnight range. Triggering or rejecting either would be likely to be very productive very quickly.

The Globex-flip maintained its open under the 2681.75 earlier Globex low, but never extended under yesterday’s 2674.25 last relative low to confirm. The Too-late Globex breakout was retraced back to the earlier range, but wasn’t resuming its earlier breakout. The setups eventual rejections reversed back up sharply to probe the 2695.00 bias-up target by more than 2 points.

The reversal’s pullback limit was violated, and the rally tried resuming before bothering to form any complexity or accumulative behavior. That recovery is often unreliable, and it has reacted down 6 points to 2692.00. There’s room down to 2689.50 or 2688.00 before suggesting an even bigger dip underway.

Back above 2697.00 (being tested now) would start to signal the rally has resumed. A second consecutive higher close today would confirm 2701.00 is in-play — which could be tested while confirming, which would then suggest 2756.00 is also in-play. No second consecutive higher close, especially if 2701.00 were visited in the interim, could already reverse momentum down.