Post-open Review… Gapped and Ran.

Substantial follow-through already produced.

Multiple (2) similar setups of gapping open and trending substantially intraday had made at least a third similar occurrence likely. Friday’s open gapped up to 2721.50, touched its 2720.75 bias-up target, and then extended sharply higher to 2729.00. The 2727.25 renewed bias-up target was overlapped at 10:15 to avoid renewing again.

That didn’t prevent fulfilling the next higher objective. It just needed a little assist. Reacting down from 2729.00 targeted at least 2721.50, which a quick collapse quickly fulfilled. It was retraced entirely just as quickly, and then extended to 2733.50. The next higher objective was defined as anything above 2733.00.

That was quick. Too quick. The collapse never consolidated before reversing back up. No accumulation or complexity before recovering the prior upleg’s violated pullback limit. Those setups tend to hold the prior high’s setup. Indeed, the reaction down from 2733.50 got to 2725.00.

Any deeper would likely test 2720.75. Being a bias-up environment, there’s room down to its 2714.25 bias-up signal. Maybe in a knee-jerk reaction to a headline, but otherwise I don’t expect its test this morning. Meanwhile, back above 2730.50 would at least target a fresh high before sellers try to retake control again.