Post-open review… More heavy-lifting required.

Gap up maintained, but not yet extended.

Having trended down into yesterday”s close, maintaining the gap up above yesterday afternoon”s 2066.00 high has formed a “session-long rally.” Only one intraday timing window should fail to probe its prior timing window”s high.

That doesn”t prevent dipping down, but dipping from a position of strength is likely to be recovered. That premise usually isn”t put to the test. Today is a little different with the higher-profile events surrounding Greece.

In fact, Greece PM Tspiras just thew cold water on calls to cancel this weekend”s referendum, triggering an 8-point plunge that pierced 2066.00 by 3 ticks. The premise hasn”t passed the test — bouncing initially up to 2070.25 has reacted back down to fresh lows at 2063.50.

Until probing above the bias timing window”s 2074.50 high, exiting the bias environment at 11:30 under the 2067.75 bias timing window”s low would invert the session-long rally setup.

Usually during a session-long rally, the noon hour is the one timing window not to probe a prior timing window”s high. If it is this morning”s bias environment is an exception, then the door to inverting the setup would swing open wider

Back above 2068.25-2069.00 would again suggest the press conference”s threats have been absorbed. Back under 2065.75 would suggest the session-long rally is inverting down.