Post-open Review… Levitation act.

Holding at resistance, not rejecting it.

Yesterday’s post-open highs held tests of the 2708.00 area as resistance. It was the morning’s calculable bias-down target. Last night’s rally held the 2708.00 area as resistance, too. And its reaction down to 2698.75 was recovered to test the 2708.00 area.

Repeatedly. Eventually, a higher high became at least obligatory. The objective already measured out to 2711.00. And now that is being fulfilled by an 8-point surge up to 2715.00.

Recall that the rally from yesterday’s lows has room up to 2715.00 while still being considered a corrective bounce. The 3-minute RSI has finally touched overbought territory but not very compellingly. Back under 2711.00 would start to signal the corrective bounce is done so momentum can start reversing down.

Extending higher anyway would still leave “unfinished business below” at the gap down to yesterday’s 2688.50-2692.00 close. But another run at last week’s highs above 2733.00 would be possible, first.