Post-open Review… Monitoring for melted wax.

An opportunity to neutralize the upside.

The open blipped-down to touch 2176.00, and then bounced back to and through the 2179.00 overnight high. Another blip-down was recovered to higher highs. The 2180.00 bias-up signal triggered late after extending to 2182.50.

That’s new intraday highs. That’s also 2 ticks short of Sunday night’s 2183.00 new Globex trend extreme that requires intraday retest. And its 3 points short of this morning’s 2185.50 bias-up target. Meanwhile, overbought RSIs at 2182.50 would require its retest if a sudden downdraft were to develop.

The lateness of actually probing above the 2180.00 bias-up signal undermines its sponsorship. It’s not weak-handed, but it’s necessarily.very strong-handed either. A steady, relentless extended rally isn’t likely.

Friday’s new trend high close still requires an eventual higher close. There’s no assurance of that being today. There’s also nothing preventing it. But today’s session will need to become choppy — reversing back down temporarily and then recovering before the close — for a fresh high close not to have broken sharply higher.