Post-open Review… Take two.

Overnight low probed.

The open was greeted by already probing back under yesterday’s late 2185.00 low. Its overnight probe would not be isolated, which would have been bullish. Rather, its retracement would be likely, which could be bearish.

And it has been retraced, piercing its low down to 2180.50. Isolating its retest to the open could have ended the decline from yesterday’s opening surge. Outlasting the open has instead triggered bias-down under 2182.75. Its 2177.00 bias-down target is in-play. Fresh lows just touched 2178.25.

Extending under 2177.00 through a relevant timing window (e.g. entering the noon hour any lower) would start to suggest the topping pattern we’ve been tracking is unfolding. Until then, it’s still possible for the drop from yesterday’s open to be the correction along the way to new highs.