Post-open Review… Good to the last pop.

Single-minded relentless rallying has come full circle.

A post-open overt rally effort was all but assured when the overnight dip had recovered back up to yesterday’s 2088.75 highs. This was all the more likely when their shallow pre-open probe hovered narrowly around 2090.00 — that restrained optimism, or pessimism, was bullish from a contrarian perspective.

And that bullishness was soon realized.

The open surged to consolidate above the 2092.50 bias-up signal at 2094.00. Resolving up has extended to the 2098.25 bias-up target. The bias-up signal wasn’t renewed, but fresh highs are being probed anyway to attack 2101.00.

Last Thursday’s 2089.75 lower prior highs have been probed through a relevant timing window — entering the bias environment. The recovery’s reward is to probe Thursday’s 2019.50 prior high. Creating this upside objective has entrenched the rally, which allows it to safely refuel by dipping.

No other refueling opportunity this week has been exploited. Today’s “Friday Factors” introduce vulnerabilities, but don’t require a different resolution to the recent pattern. And those vulnerabilities didn’t prevent already probing through last Thursday’s mid-day congestion around 2098.25.

One of those Friday Factors is the tendency for afternoon ranging or backing-and-filling. Early trending can be exacerbated by afternoon orders being shifted forward. I doubt there’s much appetite left for getting long up here, but there still may have been a lot of short-covering. Regardless, we’ll soon see whether yet another relentless rally can still be so single-minded.