Post-open review… Digesting more sellers.

Yet another dip, and yet another recovery. The open”s surge from 2073.25 immediately proved that yesterday”s last-hour sellers were weak-handed, by surging through yesterday”s 2080.00 high to 2081.50.

Doubters will be doubters, and a quick slide developed to 2072.25. That took 20 minutes. Another 25 minutes later, and 2081.50 was recovered. Then it was exceeded up to the 2082.50 bias-up target.

The bias-up target is calculated from accumulation patterns, and identifies where that buying pressure would be satisfied. Meeting the 2082.50 target must either extend higher without delay or else react down. This instance is reacting down.

A pullback has room down to 2077.50 (optimal) or to 2075.00 (stretching it) before suspecting that yet another dip is trying to do some damage. Meanwhile, just having returned to last week”s highs makes the two-week old highs likely to be retested, too. And there”s no reason for that other than to probe a new high.