Post-open Review… Yesterday’s squeeze finally arrives.

Pre-open surge extends post-open.

Yesterday morning’s 2372.00 high had been probed yesterday afternoon up to 2373.00.  That was probed overnight up to 2374.00. The next probe has extended up to 2387.00. That’s the sort of behavior yesterday afternoon’s restrained optimism avoided triggering.

This morning’s 2380.25 bias-up target was exceeded within minutes of the open. It was already exceeded by 7 points at 10:15. The renewed bias-up target at 2388.00 was already attacked to within 1 point. Its reaction down just touched 2384.00. Overbought RSIs at 2387.00 suggest its reaction down will be recovered.

Back under 2382.50 would start to signal a deeper pullback may be underway. It would likely recover, since post-open action is a trend (higher highs and higher lows) which is usually retraced eventually. But under 2382.50 could temporarily retest yesterday’s range.