Post-open Review… Back-to-backing-and-filling?

Gap up reacts back down. Which reacts back up.

Yesterday’s rally didn’t gain traction for its efforts. So, gapping up above yesterday’s highs was the only way to rally credibly this morning. Gapping up, and extending.

But the gap up held its test of 2397.00 “higher prior lows” and reacted down.

Natural support was found upon filling the gap back to yesterday’s 2392.50 close. RSIs diverged positively, producing a bounce that failed to recover the 2395.25 bias-up signal.

This is a no-bias environment. Holding a test of the bias-up signal put into play an offsetting test of the 2388.75 bias-down signal.

That objective below is became suspect when the bounce tested the 2395.25 bias-up signal. By 3 ticks. But still overlapping it at 10:30 failed to invalidate what was triggered cleanly and timely at 10:15.

That said, beware of being short above 2396.00, because the bounce’s rejection isn’t optimal. Back under 2394.00 would signal the break lower has resumed.