Post-open Review… Fulfilling potential.

Open’s surge evolves into bigger rally.

The open’s surge through 1907.00 was only temporary, despite touching 1911.75. Its reaction down fell to 1904.00, but in a singular leg that was still overlapping 1907.00 at 9:45.

So, 1907.00 wasn’t recovered, but neither was it rejected.

Being a singular downleg, it was still the first reaction down from the previous trend’s extreme. That leg has a horrible track record of triggering a durable reversal signal. Even the most bearish scenarios tend first to retrace the first reaction by 61.8%.

So, reversing down was even less likely.

The optimal pullback would have stopped 4-6 ticks higher. Nevertheless, not triggering a sell signal by 9:45 had further marginalized sellers. Triggering a buy signal extended higher toward the next higher objective at 1920.00.

1920.00 has been attacked to within 6 ticks. Back under 1915.25 would trigger a corrective dip targeting 1911.00. Simultaneously overbought 1-minute and 3-minute RSIs at the high would require its retest, presumably up to the 1920.00.