Post-open Review… Buyers bidding beneath

Post-open dip recovers to fresh highs.

The open’s active templates were likely either to extend the overnight rally immediately, or else correct it a little first. Extending the overnight rally to 2699.50 didn’t make either template likelier. The extra push higher could help to trigger a post-open short-squeeze. Alternatively, or else the added room allowed expending more selling pressure without it damaging the chart.

The open did dip down to 2692.50, and then recovered all but 1 tick up to 2699.25, all during the opening 15 minutes of volatility. Consolidating there has broken higher to 2701.50.

1-minute RSI has avoided returning to overbought. That can reflect restrained optimism, especially as price continues rising. Usually then, an eventual price surge takes RSI overbought, and an actual peak or pullback can develop. The next higher objective meanwhile is 2705.75.

Back under 2696.25 would start to signal a deeper reaction down. There’s room down to 2685.00 before threatening not to close positive above 2681.50. Until then, any pullback is assumed will recover, and set-up an interesting WedEX tomorrow afternoon.