On the verge of confirmation.
Morning-long rally is helping to protect yesterday”s breakout.
The open”s 2093.50 buy signal”s minimum objective at 2097.00 wasn”t quickly exceeded. Its 2099.00 area target wasn”t exceeded immediately, either.
As much time has been spent consolidating 1 tick under the 2101.75 bias-up target. But it is no less influential, and exceeding it would be no less relevant.
Of course, exceeding the 2101.75 bias-up target into the noon hour would be more relevant than delaying it.
Regardless, a bias environment has trended up to be exited above prior highs. These combined conditions usually marginalize sellers, and often extend the trend. Marginalized sellers don”t preclude there being a dip, only that the dip is likely temporary and recovered. And extending the trend often must wait for that temporary dip.
A pullback could be limited to 2097.50 or 2096.25 before recovering to resume the rally. Extending higher, first, would have potential to 2105.50.
