Post-open Review… Bias-up bias.

Pre-open rally, post-open surge, bias-up trigger.

The overnight rally to 2349.50 retraced 61.8% of yesterday afternoon’s drop. Its reaction back to unchanged at 2341.00 could have extended into a gap down, but did not. Instead, another bounce greeted the open at 2346.00, retracing 61.8% of the overnight drop.

This retracement extended higher. Fresh highs touched 2350.50, and started ranging sideways. And is still ranging sideways. Choppily. The 2346.75 bias-up signal was touched as support, AFTER it had already triggered. A fresh high printed momentarily, but hasn’t extended higher.

Now having printed above the pre-10:15 high, invalidating the 2352.25 bias-up target must exit the bias environment under the 2335.00 bias-down signal. Difficult, and unlikely. So, not meeting the target this morning would make it “unfinished business above.”

Meeting the target early enough would allow time to reverse back down. Friday Factors could protect against that if not already reversing down by noon — protect against reversing down, if not also enable a short-squeeze higher.

Regardless, gapping up under yesterday afternoon’s high means that sellers will not be marginalized today. A downdraft could develop at any time.