Post-open Review… The hand-off.

Gap up finds new sponsorship.

The pre-open surge to 2053.00 had dipped to greet the open at 2049.00. Post-open action dipped a little deeper to 2046.00. Any lower would have triggered a sell signal. So, literally, as much selling pressure as could be expended without gaining traction was expended.

Literally? Numerically. Anyway…

The opening 15 minutes ranged narrowly sideways. This wasn’t bearish since the burden of proof was on sellers. In fact, the range resolved up to 2054.25.

Reacting down has violated the 2053.00 pullback limit down to 2049.75. Back above 2052.50 would signal that the rally had resumed, next targeting 2056.25-2057.00.

Meanwhile, the open’s delay in extending higher makes me suspicious about the recovery’s post-open sponsorship. Reacting down under 2048.75 would start to signal momentum reversing back down. It’s not a likely scenario, but there’s no assurance that this week of reversals has ended.