Post-open Review… Let the gains begin.

Gap up extending sharply.

Buying the open was justified. The bullish scenario essentially required maintaining its gap up, if not also extending it. And opening at or above 2574.00 was the first hurdle to also exceeding 2577.00 through a relevant timing window.

The 2574.00 open surged immediately to attack 2578.00, testing an inflection point at 2576.50. Fluctuating around it no deeper than 2 points maintained the gap up, and finally resolved up to higher and higher highs. Exceeding the 2573.75 bias-up target through 10:15 renewed the bias-up signal, although it’s irrelevant since the renewed target is already met.

Hesitation at 2580.25 stopped pessimistically short of filling the gap back to Monday’s 2582.00-2583.00 close. And 1-minute RSI actually got more overbought during the consolidation. The setup resolved up sharply, confirming that sellers are not being influential.

Rallying more steeply than the decline’s slope suggests that this is a correction. Impatience is a common characteristic. Regardless, keep in mind that corrections are not sponsored by strong hands, and we’re expecting an eventual resolution down. But currently there’s room down to 2577.00 before signaling the bounce is reversing.