Post-open Review… Tough get. Tougher give.

Overnight rally retraces entire excess.

1946.00 was the minimum objective to retesting Monday’s highs, potentially to 1952.00-1953.00. That potential became likelier as reward for recovering from a deeper and more prolonged pullback. In fact, it was relevant resistance when attacked overnight. And its eventual break launched a rally to sharply higher highs at 1968.75.

But only momentarily. The reaction down from 1968.75 still held up enough to gap up at 1960.00. But trending down from there has touched yesterday’s 1949.50 high.

1949.50 happens also to be yesterday’s cash session close equivalent, which is natural support. While 3-minute RSI made a higher oversold low, 1-minute RSI diverged positively. And now a bounce is testing 1955.00.

A bigger bounce would target 1962.75, while filling the open’s 1960.00. gap. Holding its test and closing negative would seal a top. Meanwhile, this morning’s noN-bias signal has no objective of its own.