Post-open Review… And higher.

Gap up to target is being exceeded.

The overnight rally had begun probing yesterday’s 2645.50 high to attack 2650.00, and then blipped-up to 2657.50 into the open. The actual open was also the rally’s 2656.00 next higher objective. Its resistance reacted down to 2647.00, overlapping a couple of sell signals but never attracting reinforcements.

Testing a 2651.75 buy signal at the 10:15 bias timing window got a benefit of the doubt for having absorbed sellers. Coincidentally, a favorable China trade headline several minutes later triggered a spike up to 2661.00. And now its retracement has recovered to fresh highs at 2668.50.

Having met 2656.00, no upside requirement is in-play. The next higher notable resistance — its room for noise — is at 2668.50, now being tested. Closing above 2656.00 would put into play the rally’s next higher objective at 2701.00. Closing back under 2656.00 wouldn’t be predictive of anything, other than sponsorship not exploiting the opportunity to further entrench the rally.