Post-open Review… BIAS-DOWN, BIAS-DOWN TARGET EXCEEDED.

Post-open surge holds the overnight open.

The post-open surge pierced Sunday night’s 2917.75 opening print by 6 ticks, then reacted down to 2913.75. A sell signal is sitting one tick lower. Back above 2920.00 would resume the rally, next targeting 2927.50.

Significant overnight resistance had formed at 2904.00. The open blipped-down to touch 2894.00. Breaking under it through the open would have been problematic to a recovery. Its reaction up quickly triggered the 2903.25 buy signal, extending since then up to 2919.25.

A correction has room down to 2907.00 before suggesting something deeper underway. Something deeper would suggest that buyers weren’t strong-handed, and fresh session lows could be tested or broken.

Otherwise, no correction is needed before resuming the rally. But resuming the rally without a correction must still exceed 2927.50 through a relevant timing window to confirm that strong-handed sponsorship has absorbed the drop.