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Post-open review… Legs. – If, Then… Market Timing

Post-open review… Legs.

Overnight recovery finds post-open sponsorship.

The 2084.75 open extended higher without delay. Ranging around the 2087.50 overnight high formed a Symmetrical Triangle that has broken higher to 2091.25.

This gets into the target area around 2092.00 that I defined during Saturday Review. A reaction down becomes likely when combined with the Triangle — a pattern that tends often to break falsely initially before reversing more substantially in the opposite direction.

Patience is NOT a virtue at this stage. Refueling sellers by trapping shorts shouldn”t be necessary. This should be the stage where trapped shorts are squeezed to help fuel the rally. But reacting down could target the 2077.00 area just as a corrective dip that still recovers.

Extending deeper down to 2073.00 still could launch another upleg, but much less reliably. The most bullish scenario is to simply extend higher this morning to exit the bias environment above the 2092.00 area.