Post-open Review… Digging out but still dug-in.

Late surge trying to extend the open’s firming.

The open immediately surged through 1978.50, avoiding a test of 1973.75 first. Testing 1973.75 first and then recovering 1978.50 would have accomplished two objectives of a bottom. Post-open selling reflects pessimism, and recovering it casts that pessimism as weak-handed, which is bullish from a contrarian perspective.

Only recovering 1978.50 isn’t necessarily overly-optimistic. But it does keep the burden of proof on buyers to maintain the open’s pace. Otherwise, turnabout is fair-play — post-open optimism can be proved weak-handed, too.

Room for noise has been probed up to 1991.75, but never exceeded through a relevant timing window like 10:15 or 10:30. Now RSIs are deteriorating into the higher high. A reversal signal under 1987.75 is being tested.

Probing any deeper than its first 3 minutes’ low would target 1977.25. Any lower than that would target new session lows. Exiting the bias environment above 1991.75 would a big step toward extending the bounce through late afternoon.