Post-open Review… Late lift holds up.

Gap up maintained above yesterday’s high.

Buyers didn’t gain traction for their effort yesterday. So, another rally day required reinforcements (actually, new sponsorship). That would be indicated by gapping up above yesterday’s high. Overnight action teased at it, then retraced.

And then recovered again.

A pullback from 2702.00 back into yesterday’s range found support at 2696.75. That is natural support at yesterday’s close, and also the next higher objective above 2684.25. Reacting up 10 points tested 2707.00 before the open, and extended higher to 2709.00 post-open.

The gap up was maintained through the open, creating a position of strength.

Not that the position of strength has been productive. It doesn’t preclude weakness. In fact, the 2704.00 open is being tested as support. But weakness from a position of strength is likely to recover, if not also to resume the prevailing uptrend.

A pullback has room down to 2700.50 before even suggesting momentum may be reversing down. Meanwhile, back above 2707.25 (being tested now) is likely to resume the rally. The 2710.25 bias-up target is in-play, and potentially also 2721.50.