Post-open Review… Late bird got some worms, too.

Low opening print still attracts buyers.

Opening above yesterday’s 2354.50 low would have been very bullish. Sellers would have been isolated to the overnight, and a muti-session low could have begun forming. A short-squeeze today would have been very likely.

Opening under yesterday’s low at the 2352.75 bias-down signal wasn’t bearish if not triggered. In fact, it almost immediately launched 5-6 point surge. That was retraced, as was the next, but ultimately another surge extended to the 2361.25 bias-up signal.

The test’s timing invoked the grace period, which resolved up. The 2368.25 bias-up target is now being attacked to within 3 ticks. It won’t become “unfinished business above” if left outstanding. That objective is a calculation. There’s also a structural objective, yesterday afternoon’s 2369.75 bias-down signal that broke prematurely and requires a retest.

Being in proximity of 2369.75 helps its attraction. So does the post-open ongoing series of higher highs and higher lows. Only 1-minute RSI is diverging negatively, so it’s not bearish. The difficulty with extending higher is due to “higher prior lows,” since still no prior high has been recovered.

Reacting down has room to 2360.00 before beginning to signal a deeper pullback underway. Yesterday’s 2354.50 low would be one objective, then potentially 2350.25 before resuming the decline.