Post-open Review… Made it. Now, break it?

New highs fulfilled. Not yet extended.

The open gapped up into last Monday’s range above its 2187.00 cash session close, and extended higher to touch the 2190.00 bias-up target. A lot of time was spent probing higher to 2191.50, above last Monday’s high as was required.

Printing above 2190.00 at 10:15 officially renewed the bias-up signal, next targeting 2194.50. Technically, the renewed signal is not optimal, since 2190.00 had been overlapped for so long, while RSIs deteriorated. But the burden of proof is on sellers.

Maintaining the gap up above all prior highs often creates an anchor that prevents launching a durable reversal. Today’s anchor is less reliable since it formed within a prior session’s range. Still, the burden of proof is on sellers, and reversing down under 2188.75 could recover aggressively from 2185.00-2186.00 this morning.