Post-open Review… Dropping anchor.

Gap up maintained long enough to matter.

Like Friday’s gap up, the opening 15 minutes of volatility didn’t reject it. Also like Friday, the open had trended up through 9:45, printing higher lows and higher highs to within 2 ticks of the 2133.00 overnight high.

Buyers have traction. But that doesn’t prevent reactions down.

Suddenly, a spike down to 2125.25 is making clear that upside momentum wasn’t helped during the 10:15 bias timing window. Choppy ranging did trigger bias-up, but didn’t renew it above the 2129.75 bias-up target.

A bias-up environment has room to range down to its 2124.00 bias-up signal as support. Backing-and-filling this morning is likely so long as the 2129.75 bias-up target isn’t recovered. Above it would target 2135.25-2136.00.