Post-open Review… Avoiding another reversal.

Or, has it only been delayed?

Last night’s bounce to 2905.00 was reversed back to unchanged at 2899.25 before the open. And that was probed momentarily down to 2897.50.

But retracing doesn’t equate to reversing.

Firming into the 2901.75 opening print also touched this morning’s 2901.50 bias-up signal, and the test was on. Touching would require either triggering it to put in-play its bias-up target, or holding it to put in-play an offsetting test of its bias-down signal.

Invoking the grace period resolved up, quickly compensating for the delay. Intraday tests of the gap back to yesterday’s 2903.25 open and the 2906.25 “new Globex trend extreme” are now done. Their likely higher objective at 2909.00 is being met, too.

I’m not ruling out a reversal into negative territory. Probably not while RSIs remain overbought at the most recent high. And probably not if already reversing down into noon. New highs can also become much, much higher new highs, so I’m definitely not selling before a signal triggers.