Post-open Review… Up to the last drop.

Optimism absorbs multiple dips, then is fully rewarded.

The open’s blip-up touched the 2727.75 level I had identified in pre-open comments as likely to be the upper-end of noise. Back under 2725.25 would signal momentum reversing down, which it did, all the way to 2718.25.

And that was just halfway through the opening 15 minutes of volatility. Which made its durability suspicious. Especially since the reaction down was still only overlapping yesterday’s 2720.00 cash session close’s support.

Another bounce up to 2727.75 wasn’t surprising, not so much as it not probing higher. That was the first instance of “ineffectual pessimism” which kept alive the potential for fresh highs. And ultimately, after easily triggering the 2722.50 bias-up signal, a fresh high targeting 2730.50 was fulfilled.

And rejected. Consolidating back down to 2720.00-2722.50 is now probing lower to probe the open’s low by 1 point down to 2717.25. Already meeting the bias-up target does make the pattern vulnerable to reversing down, especially since not gapping up high enough already doomed a morning rally to failure.