Post-open Review… Above a rock and a hard place.

Overnight drop finds post-open buyers.

My last comment before the open was that it’s being greeted not between a rock and a hard place, but above it. The overnight dip to 2704.50 had bounced back to 2711.00, where a post-open surge touched 2714.00. Overlapping dips up to 2716.25 eventually broke higher to 2721.25.

That’s right. Yesterday’s low. Natural resistance.

Overlapping the 2718.50 bias-down signal in time to invoke the grace period ultimately retraced it to trigger late bias-down. Already, its reaction down is 2 ticks away from fulfilling room for a retracement down to 2711.00.

Holding an intraday test of 2704.50 would be a lot more bullish than avoiding its test altogether. Recovering 2717.00 through the close would be a lot more informative than the open. More predictive, too. Meanwhile, the 3-day holiday weekend’s influence doesn’t even begin until today’s close.