Post-open Review… Holding up, but holding out.

Post-open extension a little too slow for comfort.

While the path back down didn’t have any timing requirement, extending the gap up should have developed with little delay after the open. The delay in extending higher could have been littler, but it did extend higher.

Gapping up to this morning’s 2050.50 bias-up target had dipped quickly to 2047.00, and the first half-hour’s highs were still overlapping the overnight highs. But price has gradually extended higher to 2056.50.

Extending higher has fulfilled the renewed bias-up target at 2055.00. It was being overlapped at 10:15 to avoid doubly renewing the bias-up. Its reaction down is testing 2052.75 into 10:30, targeting 2050.75, and potentially also 2049.75.

We can give that a benefit of the doubt to buyers gaining traction. Probing back under 2034.00-2035.00 may be rejected. Just keep in mind that the optimal rejection would have extended higher sooner. Exiting this morning’s bias environment back under its open could deteriorate very quickly intraday.