Post-open Review… Laurel-resting time?

Buyers entrenched, threatening to exploit it.

Extending above 2430.00 pre-open enabled gapping up to 2432.00. That extended gradually to 2436.50. Enough of that was maintained through 10:15 to renew the bias-up signal, next targeting 2440.00.

More so, the gap up trended up through the open. This creates an anchor that can help to attract price up in case of a reaction down. The renewed bias-up target won’t become “unfinished business above” if left outstanding. But the anchor is often recovered.

And there was a reaction down. A quick dip retraced all post-open gains down to 2432.00. An inflection point 1 point higher was probed no deeper than its first 3 minutes — in fact, the first bar probing the the inflection point was the probe’s low.

The dip has been recovered up to 2435.00. Any higher would start to signal the rally is extending again. But back under 2431.75 would signal the dip was becoming something deeper.