Post-open Review… Halved.

Gap up becomes post-open dive that retraces half the overnight rally.

The overnight rally had attacked 2140.00, and greeted the open less than 1 point lower. that’s a lot of buying pressure, but was it too much to attract new sponsorship? Testing the 2137.00 prior high during the opening 15 minutes of volatility would soon tell us. That required exceeding it to indicate that the overnight rally’s momentum remained intact.

It wasn’t.

Reacting down under 2136.00 targeted 2132.50, which was soon tested down to the 2131.75 bias-up target. Consolidating there maintained the recovery above 2131.75 through 10:15 to renew the bias-up signal. Sounds bullish.

Perhaps not.

2136.75 is the renewed bias-up target. It was already tested, so its retest isn’t required. Back above 2132.50 (being tested now) would signal its test is underway. But back under 2130.00 first would suggest not. At least not until neutralizing oversold RSIs at the post-open low.