Post-open Review… This is going to leave a mark.

Bearish pre-open setup unfolding.

Volatility has infested intraday action. Opening at the 2769.50 bias-down signal began dipping immediately. The drop finally accelerated after working through 2767.00. And now 2656.00 has been probed down to 2650.25.

That’s 35-1/2 points off of the overnight high. The overnight high that had probed above yesterday’s high, and then exited today’s open under the earlier overnight low. That being the bearish setup which essentially dictates trending down this morning, and potentially through tomorrow morning.

Closing today back above 2756.00 would suggest the bearish setup’s influence was done. Currently, a corrective bounce with potential to 2763.50 may be forming. If it succeeds (or gets anywhere close) then its injection of optimism will likely fuel another downleg this afternoon. The near-term bullish scenario would be better-served by remaining pessimistic for longer, without extending much deeper.

Extending much deeper would next target 2738.50. That was in-play briefly after Tuesday’s open. Its test would likely fail ultimately, on the way down to fresh lows at 2731.00-2732.00.