Post-open Review… Anchored.

Gap up above prior highs maintained through open.

Gapping up to 2158.00 was at or above each of last week’s intraday highs. Post-open action hardly looked back while extending to 2163.50. That’s even above Friday’s pre-open reaction to the Employment Situation report.

Maintaining a gap up above prior highs is an anchor. It’s not assured of extending higher this morning but often does. Reacting down would be very likely to recover entirely.

Potential for reacting down comes from having extended so far already. Not arbitrarily, but holding a test of the 2162.25 renewed bias-up signal. Exceeding it through 10:15 would have doubly-renewed the bias-up, and still have been vulnerable to a pullback.

Overbought RSIs at the high require its retest, even after a 2-point dip was recovered to within 1 tick. Regardless, back under 2160.75 would suggest a deeper pullback underway this morning. Exiting the bias environment at 11:30 under the 2156.50 bias-up target is the minimum requirement to suggest the day’s momentum is reversing down.