Post-open Review… Overly-optimistic.

Bouncing prematurely.

If the overnight rally wasn’t going to produce a gap up that could rally into Tuesday, then another path higher was still available. But it necessitated dipping deeply first. And only briefly. Extending the overnight drop to test 2570.25 pre-open was a big part of that deeper dip. But it was too brief to produce a reliable base. And it was only pre-open, not intraday.

Testing any part of 2566.75-2568.50 post-open and recovering 2570.00 through a relevant window would have trapped shorts, and refueled buyers for a bigger rally leg. Bigger, and steeper, likely to reverse almost straight up.

Instead, the pre-open attack on 2570.00 was already recovering pre-open. The opening bars chipped away at this morning’s 2574.00 bias-down signal’s resistance. Meanwhile, price was reversing almost straight up to already attack the 2572.75 bias-up signal within 2-3 ticks.

An offsetting test of the 2582.75 bias-up signal would have been put into play once 2574.00 had held as support through 10:15. This morning the offsetting test was already fulfilled before being triggered. But it could have been exceeded, and wasn’t. The bias signals should define either end of the window if tested — at least, until the bias environment lapses or comes within view of lapsing 10-15 minutes earlier.