Post-open Review… No rejection yet.

Gap up and new highs are holding up.

The 2726.75 overnight high had pulled back before the open. It was similar to the earlier defensive posturing ahead of Europe’s opens. Neither was deep enough to reverse down, so my pre-open comments in the chaRTroom reiterated expectations for opening strength.

The open did gap up, albeit under yesterday’s high. Post-open did surge to probe yesterday’s high. And after consolidating back down to the 2722.75 bias-up signal, higher highs fulfilled the 2730.00 bias-up target up to 2731.25.

Which held, triggering bias-up, bias-up target met. The window’s lower-end should be defined by its 2722.75 bias-up signal if tested. If probed before that window lapses, then it should be retraced. Perhaps for longer, as this is a Friday when the morning bias signal tends to persist through the noon hour, although that’s not required.

Meanwhile, this is still a bias-up environment, regardless of having met its target. But today is unlikely to duplicate the prior two sessions’ strong intraday rallies. That’s also not required, and exiting the bias environment above its 2730.00 bias-up target would suggest. Otherwise, a flat-to-lower afternoon would be likely.