Hesitant morning is leading to a firm afternoon.
Exiting noon at new highs.
This morning”s 2087.50 bias-down signal didn”t require a test. But it was likely to hold if tested. And it did hold through 10:15, putting into play an offsetting test of this morning”s 2095.75 bias-up signal.
Exploiting the bias signal was delayed by choppiness just under Friday”s close. The ineffectual pessimism made the eventual test of 2095.75 likely to be exceeded when met.
In fact, 2095.75 — which is also this afternoon”s bias-up signal — has been met. And it was easily exceeded through 1:20. Bias-up triggered, putting into play the afternoon”s 2101.50 bias-up. Already, 2099.00 is being attacked now.
There”s another point of room for noise above the bias-up target. And other than having fulfilled buying pressure, there”s no reason why the upleg can”t extend.
Well, there”s one reason — or, could be — which is if this afternoon”s bias environment is exited back under the noon hour”s 2094.75 high, or under its 2091.25 low.
Otherwise, today is on-track to fulfill the minimum outstanding objective for at least one more higher close. And it is being fulfilled by the aggressive rally as forecast by the template we”ve been tracking. Don”t forget the vulnerability that the template suggests after that…
