Post-open Review… Holding on.

Pre-open dip holds support.

Having probed yesterday’s high overnight, exiting the open under the 2445.25 overnight low would have reversed momentum down. It was probed pre-open and post-open down to 2442.75, with an interim test of 2445.25.

2445.25 was recovered again well before the opening 15 minutes of volatility had lapsed. And that has since extended up to 2449.25. The usual reward is at least to retest the 2454.25 overnight high.

Normally, this setup also would marginalize sellers through at least the morning. Today is suspicious, for a couple of reasons — lacking velocity at the inflection points, and 1-minute RSI repeatedly avoiding overbought territory.

No consequence is required, but often another downdraft develops anyway. If a downdraft does develop, it would likely be absorbed, and recovered, attracted to a retest of the overnight high.