Post-open Review… Back to the highs.

Target met, not renewed, but that didn’t matter.

Recovering the 2866.00 area through the open at 9:45 — or not — would have offered early assurance of also triggering the 2863.00 bias-up signal at 10:15. It was still being tested, so the early indication was moot.

But just testing and not rejecting it kept alive potential that its recovery was only being delayed by anxiousness ahead of Fed Chair Powell’s Jackson Hole remarks. Which it was. The knee-jerk reaction to his remarks spiked up to test the 2868.50 bias-up target.

Its reaction down to 2865.00 easily triggered bias-up, but didn’t recover above 2868.50 in time to renew the bias-up signal. It’s still a bias-up environment, and now another surge is attacking Tuesday’s 2874.00 high. RSIs are simultaneously overbought.

The usual bullish behavior of a bias-up target already met at 10:15 is to hover there, or back-and-fill through the balance of the bias environment. Probing higher can be premature, but the next significant higher objective would essentially be 2883.00. Regardless, I wouldn’t fade strength without some sort of distributive pattern forming first.