Post-open Review… Venting, indeed.

Opening sell-off probes last week’s lows.

The post-open crowd was going to acknowledge last night’s selling one way, or another. Only gapping up would have inhibited a post-open extension of Friday afternoon’s plunge.

But what could have been absorbed around 1900.00 has instead extended to test 1893.00.

And that’s not the bearish part, probing fresh lows, no matter how low. Testing any fresh low can be potentially bullish, depending on when and how its test begins, and on when and how it ends.

Probing under last week’s 1897.00-1899.00 low AFTER 10:15 could have been rendered moot by then recovering it by 11:30. Isolating its test to the bias environment would make it only noise.

However 1897.00-1899.00 was already being probed when the bias environment began at 10:15. Rejecting it must recover the last downleg’s origin when the bias environment begins lapsing at 11:30. That’s essentially 1909.00.

Currently a bounce is testing 1897.00-1899.00 as resistance. There is no unfinished business below, since 1-minute RSI diverged at the low. But back under 1894.50 would resume the decline, next targeting 1884.00.