Post-open Review… Knee-jerk up holds.

Spiking up on payrolls, recovering its retracement.

2884.75 is this morning’s bias-up signal, and it held a dip back down to it before the Employment Situation report. The reaction spiked up to 2893.50, but only spiked up — no complexity formed that otherwise would have required the spike’s retest.

But its reaction down held tests of 2887.50-2888.00 to avoid reversing momentum back down. The spike’s higher was retested despite no requirement.

Retesting the spike high also exceeded the 2892.00 bias-up target through 10:15 to renew the bias-up signal. The renewed bias-up target is 2902.00. That’s not required, and a probing above the pre-10:15 high would help to confirm. But Friday morning bias signals do tend to persist through the noon hour.

Meanwhile, already having fulfilled the bias-up target, a reversal down would be credible. More difficult to signal, but credible. Back under 2890.75 would start getting a benefit of the doubt that the uside is donw.