Post-open Review… Restrained optimism.

Post-open bounce stops short of its potential.

Eking higher from the 2617.25 overnight low go to 2631.50. Dipping into and out of the open tested Tuesday’s 2625.75 low by 3 ticks and bounced. Two more pullbacks also recovered on the way to probing the 2638.75 bias-down target by 1 point, retracing 61.8% of the overnight drop.

RSIs diverged negatively, and the next pullback didn’t stop until probing the opening low down to 2623.00. But having held a test of Tuesday’s low as support through the opening 15 minutes, its retest after 10:15 was likely to hold, too. Which it did, now reacting up to 2636.00.

Holding support, and stopping pessimistically short of touching yesterday’s 2641.25 “higher prior lows” suggest that sellers are marginalized for the morning. Probably. But not maintaining its recovery above 2636.00 keeps the door open just enough.

Back under 2627.25 would give another downleg a chance to form. Otherwise, fresh highs could recover positive territory.