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Post-open review… Extremer sentiment. – If, Then… Market Timing

Post-open review… Extremer sentiment.

Gapping up above resistance extended through more of it.

The pre-open push through 2088.00 had ranged back down to only 2086.00 at the open. Post-open buying was overwhelming, pushing price higher quickly to attack 2092.00. Extending higher since then has attacked 2095.00.

Gapping up and extending higher through 9:45, without reversing down by 10:15, all but ensures fresh highs before noon. Generally not simply probing higher, but actual trending with a complex structure of higher highs and higher lows.

Obviously, we haven”t even considered taking a sell signal. Meanwhile, near-term resistance at 2095.25-2095.75 has been touched. Reacting down would likely test 2089.50-2090.50 and still recover to fresh morning highs.

The nearest sell signal is under 2088.00, which I calculated simply to illustrate how much room there is for a dip before even threatening to reverse momentum down.