Post-open Review… Still digging.

Probing fresh lows, but not stopping.

The overnight rally up to this morning’s 2795.50 bias-up target had reacted back down under the earlier Globex low to 2768.50. A pre-open bounce greeted the open at this morning’s 2775.00 bias-down signal.

A blip-up to 2777.50 reacted down sharply. And relentlessly. No meaningful bounce developed until filling the gap back down to last Tuesday’s 2754.50 cash session close.

The bounce quickly peaked at 2762.52 and soon reversed back down to fresh lows. “Lower prior highs” in the 2751.00 area are being under 2744.00. RSIs are again simultaneously oversold.

Two consecutive sessions trending in negative territory have fulfilled the objective to probe negative territory, if not also under Friday’s lows. That’s the first step to ending the multi-session decline. The second step is to recover a relevant level through a relevant window. Relevant levels to the lower prior highs now being tested include that session’s 2754.50 cash session close, its 2759.25 futures close, the last bounce’s 2762.25 peak, etc.

The trend otherwise remains down, threatening to develop into a new downleg retesting two-week old lows, and deeper.