Post-open Review… Expansion’s back.

Big post-open rally.

The intraday range of yesterday’s probe of fresh lows was relatively narrow. That didn’t necessarily contradict my ongoing assumption that we’ve entered a period of heightened volatility. An inside day would have been suspicious, but at least Thursday was being productive with a new low.

Well, volatility has returned — with a vengeance. Gapping up to the 2043.00 bias-up signal soon extended to its 2048.50 bias-up target, and not much later has also touched 2054.00.

This is a renewed bias-up environment. Its 2055.00-2056.00 renewed bias-up target doesn’t require being met.

RSIs diverged negatively at the high, and now a reaction down is testing 2050.50 down to 2049.00. Any lower could shift the balance of the morning to defense, with room down to its 2043.00 bias-up signal. Back above 2052.25 would more likely extend to 2055.00-2056.00.

Exiting the bias environment under this morning’s 2043.00 bias-up signal would invert this afternoon’s bullish WedEX influence to bearish. Otherwise, even the most bullish WedEX would be fulfilled by only ranging flat-to-higher into the weekend (and delaying an aggressive rally until Monday morning).