Post-open Review… More than it could chew.

Open’s rally satisfies upside attractions.

The overnight rally to 2465.00 had corrected down to 2459.50 when the Euro tumbled. But firming greeted the open at a 2463.50-2464.25 buy signal that I had identified in the chaRTroom.

Its first test bobbled. Its second test surged. The 2466.25 bias-up target was tested through the opening 15 minutes of volatility. Its eventual reaction down to 2464.00 was reversed up sharply to test 2469.00 by a couple of ticks.

1-minute RSI had been diverging negatively, and 3-minute RSI left overbought territory again. And 2469.00 coincides with downtrending Pivotal Resistance off of July’s high. A reaction down finally developed, touching 2464.25.

Maintaining a break under 2464.25 would likely open the floodgates to selling. It’s the low of an inflection point’s test at 2465.50. And there is no “unfinished business above.” The overnight range would likely be probed down to 2457.50, for starters.

Avoiding a deeper pullback this morning would maintain upside potential to 2477.00. Potential, not necessarily momentum — not without also entering or exiting the noon hour above 2469.00.