Post-open Review… The whimper persists.

No improvement to last night’s gap up.

Sunday night’s Globex open had gapped up in reaction to Trump’s weekend China trade tweet. Despite a presumably bullish environment and the tweet’s catalyst, the gap only corrected Friday’s last reaction down. Only firming overnight suggested no strong-handed buyers were coming.

Weak-handed reinforcements could have arrived, their reward being to retest Friday’s high and its borderline overbought RSIs up 2525.25. But 2512.50 overnight high had reacted down to 2501.00, and its post-open blip-up has reacted down to 2494.00.

Nevertheless, this is a bias-up environment, whose 2495.50 bias-up signal should define the window’s lower-end. A bounce back up to the 2504.50 bias-up target wouldn’t be surprising, since 3 of the first hour’s 5 15-minute checkpoints overlapped it.

Lower lows would target filling the gap back down to Friday’s 2486.00-2487.00 close. Delaying lower lows until this afternoon would be less defensible, and could more easily extend down into a collapse.