Post-open Review… Eventually coming up for air.

Flailing about through the open narrowly avoids drowning.

Pullbacks need to hold 2660.00 to maintain upside momentum from Sunday night’s recovery. Trump’s post-close tweet yesterday put that to the test, as did the overnight wild ride up to 2684.00 and back down again.

Pre-open and post-open tests of 2655.00 both tested the 2657.50 bias-down target. Both recovered, ultimately holding both 2660.00 and the 2664.25 bias-down signal through 10:15. Offsetting tests of BOTH bias-up parameters is in-play at 2678.00 and 2686.00.

So far, only 2676.50 has been tested. That’s more than 20 points above the earlier lows. It’s the pre-10:15 high, and has yet to be exceeded, which keeps open the door to reacting down. In fact, its 12-point reaction down to 2664.00 is substantial, too.

The pullback is testing support at the 2664.50 bias-down signal. Back above 2668.50 should resume the rally. Nothing prevents dipping any deeper first, but there’s no bullish reason to revisit 2660.00. And exiting the bias environment at 11:30 back under its 2657.50 bias-down target would invalidate the upside objectives that were put into play earlier.