Post-open Review… Granted.

News fulfills recent optimism, but no more.

Pre-open rallying had already fulfilled the next higher objective at 2477.00. The knee-jerk reaction to Payrolls tested this morning’s 2477.25 bias-up target. But not much more. And not for long.

Post-open action also tested 2477.25, and that test held, too. Reacting down came within 3 ticks of touching the 2472.25 bias-up signal. Never mind, its recovery was maintained through 10:15 to trigger bias-up.

So, this is a bias-up environment, whose target has been met already. Its retest isn’t required, although it’s being attacked now to within 2-3 ticks. And its resistance isn’t required to hold, although it often does.

Maintaining the gap up without also also extending higher through the open isn’t necessarily bullish. And less so when its reaction overlaps the prior session’s high. If still hovering at the highs through the morning, then watch the bias environment exit at 11:30 for indications of breaking  either way — which could trend well into the afternoon.