Post-open review… Phoenix, ashes, you get the gist.

Overnight rally has bled into intraday.

If the overnight rally were going to extend today, then there was no bullish reason to delay it much past the open. And it wasn”t. 

The opening bar touched the support of this morning”s 2084.50 bias-up target to prevent resuming the pre-open pullback. Its reaction up was steep and substantial. A half-hour later, the market was 10 points higher touching 2094.25.

That was the first time any RSI had diverged negatively. The reaction down to 2090.00 has been mostly recovered. Extending higher would next target 2095.25 (being probed now). Regardless, this is a bias-up environment, renewed by exceeding its bias-up target through 10:15.

The balance of the session could be much more productive than that.

Assuming that this morning”s bias environment continues hovering around 2094.00 highs, the bias environment”s exit would be well-positioned to resume the rally into the afternoon. Resuming the rally, at all, could extend significantly — through 2097.50 would likely probe into the 2100”s.

The pattern is playing out in-line with the pre-open description, which means that I”m not considering sell signal. Exiting the bias environment back under this morning”s 2084.50 bias-up target might be the earliest that a sell signal could be considered.