Post-open Review… Exended.

Overnight rally extends sharply higher.

The overnight rally eventually extended to probe above Monday morning’s 2707.00 high up to 2715.75. The post-open dip held a test of 2707.00‘s “lower prior high” to establish a position of strength, and back above 2714.00 signaled the rally resuming.

That test was recovered to exit the first 15 minutes of volatility probing back into Thursday’s 2716.50-2724.00 range, without yet rejecting it, adding to the position of strength. So, any reaction down would be considered only temporary.

But there wasn’t much weakness, as the post-open rally extended sharply higher to 2729.25. A close-quarters Double Top there has reacted down to 2714.00. Back above 2721.00 would start to signal the setup’s retest.

Fresh highs could next target 2733.00 or 2741.00. Otherwise, having tested 2724.00 intraday, not closing above 2724.00 would suggest that a corrective bounce was ending.