Post-open Review… Abridged too far.

Gap up’s extension fails.

Room for noise above 2902.00 up to 2911.00 was probed by 3 ticks pre-open. Its consolidation down to 2908.25 fluctuated narrowly through the open, and then surged even higher to attack 2915.00.

But the fresh high’s reaction down to 2911.00 never recovered. Still overlapping it at the top of the hour started to suggest the post-open surge was weak-handed.

Not that the trend must reverse down — the potential for a quick post-open collapse became invalidated not only by the post-open surge, but also by coming so far past the open. However, retracing the open’s gap became likely.

The retracement’s 2904.50 target is met and pierced by 3 ticks. Back above 2907.25 would start to signal a retest of the 2908.25 open, if not also 2911.00. Otherwise, fresh pullback lows under 2903.75 would target 2898.00.