Post-open Review… Halfway home.

Gap up maintained, bias-up renewed.

The overnight rally up to 2864.75 had pulled back pre-open down to test the 2861.50 bias-up signal’s support. The open was greeted by a surge through the two-week old range’s 2863.50 highs. It quickly began consolidating at the 2866.25 “unfinished business” left outstanding from that prior range.

2866.25 is also this morning’s bias-up target, which is also resistance. Nevertheless, breaking higher attacked 2870.00. Its reaction down 3-point reaction down held up through 10:30 to renew the bias-up signal. The renewed bias-up target at 2873.00 is in-play.

2873.00 isn’t required, but it is likely. Meanwhile a pullback has room down to 2865.50 or even to 2864.00 before even suggesting momentum is reversing down. Which it very well may, having expended so much buying pressure so quickly without yet probing above the pre-10:15 high. It’s also not unusual after gapping up through a prior range for a pullback to test its upper-end as support.