Post-open review… Delayed reaction… more to come?

Pre-open firming leads to post-open surge.

The overnight range was on-track to produce a post-open dip. And then cam new info.

As described in the pre-open Alert, last-minute firming probed above 2048.00. That created a new requirement — extending higher immediately, or else not dipping back under 2047.00, could marginalize sellers.

And the open surged. It recovered 2050.50 and 2053.00 through 9:45 and kept rallying. Its first real hesitation was at 2062.00. That resolved up to 2072.50 at 10:30.

Bias parameters that I calculated after Thursday”s close put the bias-up target at 2070.50. It”s being tested now. It would have been as the reward for rejecting tests of both bias-down parameters, 2048.00 and 2054.50. 

3-minute RSI has been persistently overbought throughout. It was joined by 1-minute RSI to require a retest of the high. That will be helpful information, if there”s a reaction down.

This test of 2070.50 would be an appropriate spot for a temporary corrective dip (so was 2068.00, 2060.00, and 2053.00). Back under 2068.25 would target 2061.75.

Pullback first, or not, just returning to last Tuesday”s Symmetrical Triangle suggests this leg will rally more substantially than the intervening leg dropped. That is, unless a corrective dip were to close back under 2060.00.