Post-open Review… Uncertain support.

Chipping away at the lower-end.

The pre-open dip to 2407.75 had repeated Friday’s pre-open test of Thursday’s gap up. That had bounced before Friday’s open, and today’s pre-open dip bounced, too. A post-open dip to 2408.50 repeated the pattern, but it was the first time the dip and bounce had developed intraday.

The post-open bounce’s likely objective at 2413.00 was tested. The gap back up to Friday’s 2413.75 close (also Thursday’s close) was essentially filled. And held. The bounce left behind tenuous support around 2408.50. And it’s being tested again.

No higher objective or attraction is in-play. And there’s plenty of room below before this morning’s 2505.75 bias-down signal might inhibit sellers. But this is a no-bias environment, so no bias attraction is in-play. Back above 2412.00 would suggest a retest of the range’s upper-end. Otherwise, there’s still potential for a deeper break targeting 2399.00.