Post-open Review… The least it can do.

Monday’s gap filled. Is that all?

Monday’s 2707.75 opening print was above all other highs in trend. If not extended, it would require being filled from below. Not arbitrarily, but after first dipping to test “lower prior highs.” Those lower prior highs have been tested since then, until last night’s rally greeted today’s open at 2803.50.

Post-open action extended higher relentlessly to 2808.25, neutralizing the “unfinished business” at 2707.75. Some resistance there was likely, although not necessary, and not necessarily substantial. But resistance there has pushed price down sharply to 2794.50.

While there is no longer unfinished business above, there is on requirement that neutralizing it now launches a new downleg. There’s also no requirement to extend higher, whether for a corrective bounce to 2803.50, or back to Monday’s highs up to 2812.50 or even to 2817.50.

Today’s sentiment can shift 180 degrees, multiple times. The only likelihood against reversing down would not come until this afternoon, if its bias environment were exited above the noon hour highs. The session otherwise remains vulnerable to probing lower lows.