Post-open Review… Half of half the battle.

Bias is up. Slope is unknown. Path is not assured.

The 2370.25 overnight high reacted down through the open to probe 1 point under the 2366.75 bias-up signal. The bias-up signal held through 10:15 to be triggered, putting into play its 2372.75 bias-up target.

Bouncing before the 10:15 bias timing window had been hovering at post-open highs, just under the overnight high. That was deceptively optimistic, at least restrained optimism, which is potentially bullish from a contrarian perspective.

Not triggering bias-up after testing it would have targeted a test of the bias-down signal. Already probing above the pre-10:15 high has made the bias-up target unlikely to be invalidated.

Another bullish behavior is that a reversal setup was avoided. Trending relentlessly overnight in a single direction to a fresh extreme is often reversed at the open. Maintaining the gap up can still be reversed, but it’s more likely to extend.

None of which changes that it’s difficult to attract sponsorship ahead of a weighty event like this afternoon’s FOMC. And none of which prevents an interim dip (drop, plunge, spike) from anxiousness ahead of the rate hike, or in reaction to it.