Post-open Review… Clean plate club.
Straight out of the open, straight up, straight to its target.
The overnight rally had met the 2085.75 bias-up target to within 1 tick. Its pre-open pullback pierced this morning’s 2080.50 bias-up signal by 1 tick. The post-open recovery didn’t hesitate. A buy signal quickly triggered above 2083.75 and extended to fresh highs.
Minutes after renewing the bias-up signal at 10:15, the 2092.00 renewed bias-up target was touched. Its 3-1/2 point reaction down has violated the pullback limit. Simultaneously overbought 1-minute and 3-minute RSIs at the high require its retest.
If not for the high’s required retest — probably up to 2092.75 — a sell signal would already have triggered. A little deeper pullback under 2088.25 would be likely to extend to 2084.00 before recovering.
This may be an opportunity for the rally’s sponsorship to rest, refueling by letting shorts trap themselves. A repeat of yesterday’s session-long rally is not impossible, but also not likely.
