Post-open Review… Holding up.

Target met, held, but not rejected.

The overnight pullback from 2741.00 ultimately extended down to pierce 2733.00 by 3 ticks before the open.. The open rallied immediately up to 2737.00 and then extended to pierce the 2939.25 bias-up target.

Its reaction down has recovered to a fresh high at 2741.25. It’s too late to renew the bias-up signal, but this is still a bias-up environment. Extending higher would next target 2747.25.

There’s still cause for suspicion about this morning’s rally maintaining its gains — let alone extending higher. The overnight pullback will have to serve by proxy as generating pessimism, in lieu of a deeper pullback under Thursday’s highs. That’s not optimal, but it gets a benefit of the doubt until reversed.