Post-open Review… Conditioning opportunity, dead ahead.

Another post-open bounce that isn’t likely durable.

The pre-open bounce’s post-open reaction down held 1945.00 to maintain its upside momentum targeting 1954.00-1956.50. The target’s pullback limit held, and the rally extended to 1961.00.

Its reaction down to almost 1951.00 lasted almost long enough to seal a top. But it was recovered by enough by 10:15 to marginalize sellers before extending the bounce to 1965.25-1966.50.

The target’s lower-end was just touched.

Back under 1959.00 would start to signal momentum reversing down. Reversing momentum back down could be limited to attacking the 1948.50 open. Any lower would start to signal fresh session lows and lower are in-play.

Meanwhile, the gap down’s post-open bounce has prevented conditioning market participants to be pessimistic. Not closing substantially higher will condition the market to sell gaps down — like the one being suggested for tomorrow by the active template.