Post-open Review… Out of the woods.

Pre-open dive is retraced by the open, reversed through it.

Payrolls had triggered an 8-point surge to retest the 2062.75 overnight highs. Its reaction down was exacerbated by OPEC news that sent Crude Oil down. But a pre-open test of 2047.75 sent price back up to greet the open at this morning’s 2053.50 bias-up signal.

Triggering the 2056.50 buy signal extended higher to and through the overnight highs up to 2069.75. Its reaction down to 2063.00 has been ranging around the 2065.00-2066.00 renewed bias-up target. This is a bias-up environment, whose renewed target has been met — narrowly missing a doubly-renewed bias-up.

Overbought RSIs at the 2069.75 high require its eventual retest, which should include 2070.50. Avoiding its retest would further suggest that any other pullback will recover. Meanwhile, its retest isn’t precluded from extending higher than 2070.50.