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Post-open review… Here they come. – If, Then… Market Timing

Post-open review… Here they come.

Gap up extends, entrenching new highs.

The open”s momentary blip-down touched 2105.50 and reacted up sharply to probe the overnight high. This morning”s 2109.50 bias-up target was exceeded above 2111.00 through 9:45. That made the bias-up target likely to be exceeded through 10:15, which would renew the bias-up signal.

At 10:15, the 2114.75 renewed bias-up target was being tested already. That has since held, while price ranges flat-to-lower. Bias-up was not doubly renewed.

Regardless of this morning”s resolution, new highs are now likely. This morning”s high touched pivotal highs, i.e. the highs prior to last Monday”s actual high. Recovering that much all but requires eventually probing a fresh high.

Back above 2114.75 would start to signal the rally has resumed, next targeting a retest of last Monday”s 2119.75 high by at least 1 point. Back under 2112.25 would start to signal a deeper dip underway, targeting a test of 2109.50.