Post-open Review… Holding up.

Not rejecting overnight bounce.

Rallying overnight from its initial dip to 2632.25 had recovered to attack 2660.00 through Europe’s opens. Its reaction down was recovered ahead of pre-open econ reports up to 2667.00. Still another reaction down attacked the 2650.50 bias-up signal as support post-open, which held through 10:15.

This is a bias-up environment. Its 2661.00 bias-up target has been probed three times post-open, most recently up to 2666.00. But it wasn’t exceeded in time to renew the bias-up signal, so no higher highs is required.

That said, probing higher anyway is possible, up to 2668.75 if not also to test 2678.00. Like the pre-weekend Friday Factors, the morning’s bias signal can persist through the noon hour ahead of illiquidity. Again, neither is required, and back under 2656.75 would start to signal momentum reversing back down — while participation and volume evaporate ahead of the holiday.