Post-open Review… Bounced.

Open’s surge fulfills buying pressure.

When yesterday’s open had fluctuated entirely around Friday’s 2424.50 close, we knew that a probe of fresh lows might be short-lived. In fact, diving to 2415.75 was retraced entirely. We also knew that retracing a probe of fresh lows could extend back up to Friday morning’s 2439.50 high.

Which it just did. And then some.

This morning’s Market Tour had also discussed the overnight rally to 2437.50 and its pullback to the 2430.00 bias-up signal. It was likely to extend this morning — and probably not wait for the open. It did recover up to 2436.00 and the 2433.00 open surged to the 2441.50 renewed bias-up target.

All before triggering bias-up.

Now room for noise at 2443.00 has been tested. RSIs diverged negatively. Back under 2440.25 would start to signal at least a corrective dip to 2435.75, or something more substantial since the bias-up environment and its protection will have lapsed. But there’s still an ongoing series of higher highs and higher lows. and the rally is otherwise next targeting 2446.00.