Bias-up renewed… almost doubly-so.

Despite having probed above it, the renewed bias-up target held.

[pay]Q: What do you call a bias-up signal that is renewed only once, but not twice? A: Bias-up.

The 1779.50  bias-up target was exceeded through 10:15 to renew the bias-up signal. Its renewed bias-up target was still being tested at 10:15 to avoid renewing the bias-up signal again. But that’s still a bias-up.

Buyers aren’t exploiting  the opportunity  at this moment, but sellers were marginalized entirely. Combined with having maintained a gap up above prior highs to trigger a “session-long rally,” any pullback is likely to recover to fresh session highs.

That’s the premise.

Exiting the bias environment back under its 1779.50 bias-up target — in other words, rejecting whatever was exceeded at 10:15 to be bullish — would invalidate the bias-up. And being a session-long rally, invalidating the bias-up would also invert the bias. That would likely trend down into negative territory.

Meanwhile, a pullback from the open’s 1786.25 high just touched 1781.00. Recovering 1781.00 through 9:45 had made the bias-up likely to be renewed, so resuming the rally from here would be very helpful confirmation.

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