Post-open Review… A bigger boom.

Pre-open implosion explodes higher post-open.

The knee-jerk reaction to the pre-open pipe bomb had plunged 5 points from 2657.25. Because of its catalyst, the plunge was likely to be retraced entirely. Hovering pessimistically short of the plunge’s origin was potentially bullish from a contrarian perspective. And “unfinished business above” at 2660.50 was outstanding above.

All of which combined to absorb the retail crowd’s post-open knee-jerk reaction down. It was much shallower and only touched the 2654.50 bias-up signal. The opening 15 minutes of volatility had not resolved up, but a surge soon tested 2660.50 to within 1 tick. RSIs essentially diverged negatively on its retest. There is no other unfinished business above.

Exceeding 2660.50 through 10:15 would have renewed the bias-up signal. It held. This is still a bias-up environment, capable of extending higher. Back above 2659.75 would start to signal the rally extending, next targeting 2667.25. Back under 2656.50 would have room to test the 2654.50 bias-up signal as support during the bias-up environment, and much more room afterward.