Post-open review

All biased-up, with nowhere to go.

The overnight rally from 2080.00 had extended to 2097.50 before a pre-open dip slid to 2092.00. That didn”t take the pressure off of immediately extending higher as proof of resuming the rally today. But it did make trending down through the open more difficult.

Trending down through expiration”s open would have been very bearish. The alternative isn”t necessarily bullish — at least, not very bullish.

The pre-open dip didn”t extend post-open, and initially reacted up 4 points to 2096.00. But the 2095.00 bias-up target held repeated tests as resistance through 10:15 to avoid renewing the bias-up signal.

Now a late break higher has touched 2100.00, fulfilling what would have been the renewed bias-up target. Overbought RSIs at Wednesday”s high have been neutralized. Back under 2095.00 might not be the precise inflection point, but it would make the balance of the session vulnerable to trending down.