Post-open Review… Popping trial balloons.

Headlines steal the bullish show.

Dipping from the 2370.00 overnight highs greeted the open at the overnight low and then probed lower to 2361.00. Recovering it through the opening 15 minutes of volatility at 9:45 was the first suggestion that sellers were going to be marginalized.

Rallying to the 2366.00 bias-up signal stopped short of marginalizing sellers, thanks to one headline, and then another. Two negative knee-jerk reactions to trial balloons about Trump tax plans were each recovered, but not in time to trigger bias-up. Recovering 2366.00 by 10:30 has at least invalidated the 10:15 no-bias signal.

That has extended up to 2368.25, another new post-open high. It’s still short of the overnight 2370.00 new Globex trend extreme requiring intraday retest — not necessarily today, but probably. Next above it would be 2372.25-2373.75.

Already this morning, last week’s pattern has been broken. Each day’s intraday or opening drops was recovered entirely intraday. This morning’s challenge was shallower, but its recovery has reversed to new highs. None of last week’s dips got that done. Today’s might close lower, too — which would be bearish if at least 2370.00 were probed first.