Post-open Review… Not a care in the world.

The open probes new highs.

After recovering the overnight drop to 2659.25 back up to its 2669.00 origin, a pre-open pullback extended down to test 2665.00. At least a 61.8% retracement back into yesterday’s mid-day range was likely — essentially this morning’s 2671.75 bias-up signal. Fresh highs were also possible.

The open was greeted by already improving to 2671.25. Post-open action surged back into yesterday’s midday range, and then higher to 2674.50. New highs. Reacting down tested 2671.75 as support, recovering enough in time to trigger a clean bias-up. Its 2677.75 target is in-play.

That’s a lot of optimism ahead of this afternoon’s FOMC events. The overnight drop helped to create upside momentum, but that wasn’t intraday, and it has already been rewarded. Without the bias-up yet producing a fresh high since triggering, it is vulnerable to another detour. But the target above remains intact so long as 2671.75 holds tests as support.