All biased-up, and nowhere to go.

Doubly-renewed bias-up signal touches doubly-renewed bias-up target.

[pay]The pre-open test of Friday morning’s highs and this morning’s 1845.50 bias-up target had pushed back initially before the open. We were even discussing whether the bias-up target’s test was near enough to the open for its rejection to influence the bias parameters.

Moving on…

1845.50 was retested at the open. There was still time to react down from hesitating there. But hesitating there broke higher. That, alone, made a reversal down unlikely. Then it broke higher again. Eventually, what would have been the renewed bias-up target was exceeded on the way to the doubly-renewed bias-up target at 1855.75.

Overbought RSIs at the high require its retest eventually. The “session-long rally” setup expects all but one timing window to probe the prior timing window’s high.

But back under 1852.75 (being tested now) there is potential for a temporary corrective dip to 1849.00 or 1847.50.  Back above 1854.00 would signal the rally was quadruply renewing. Or quintuply. I lost count.

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