Post-open Review… Hung up.

Gapping up and holding.

This morning’s 2197.00 bias-up signal held neatly as support when tested by the overnight pullback from 2203.00. Bouncing into and out of the open quickly extended up to 2201.00. Another reaction down to 2198.00 was recovered back to 2201.00.

It’s too late to reject 2197.00 and avoid triggering bias-up. It’s too late for a break under 2197.00 to invalidate the bias-up. The 2202.50 bias-up target is in-play. Its test is likely also to visit the 2203.00 high for being a “new Globex trend extreme,” potentially up to 2105.50.

None of which is preventing yet another reaction from retesting 2198.00. Sellers aren’t entirely marginalized, and a runaway rally isn’t likely. Under 2197.50 could extend down another 3 points, and still be likely to recover.