BIAS-UP TARGET (almost) MET

Attacked to within 1 tick, and holding.

[pay]The questions for this morning’s open were centered around the upside. How high Sunday night’s 1809.25 high would be probed, whether testing 1812.00 would react down. Despite blipping-down to 1807.00, a post-open rally has come within 1 tick of the 1812.00 bias-up target.

1812.00 remains in-play, but its attraction has been neutralized. Not that any bias parameter today would be binding on a future session, but there is no requirement to extend any higher.

That said, there is no requirement to peak, and there is not yet any reversal down. But if a reversal down today were valid, then it should also be aggressive.

Timing windows aren’t very relevant today. Regardless of this being a bias-up environment, back under 1809.25 would signal momentum reversing down. There is currently that much room for selling pressure before it could gain traction, assuming it were to extend down aggressively.

Otherwise, extending higher would have potential next to test the 1818.00 area.

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