Post-open Review… Pressing it.

Gap up extends.

The overnight high’s pullback to 2723.00 was recovered to 2734.00, but still almost failed to gap up above yesterday’s 2726.25 high. Surging into and out of the open did extend to fresh highs at 2740.50. That was the renewed bias-up target, which held through 10:15.

This being a Friday, the morning’s bias signal tends to persist through the noon hour. Renewed, or not, holding the bias-up target’s test through 10:15 is difficult to extend. It’s also difficult to reverse if extended. But there’s still room back down to the 2727.00 bias-up signal during the bias-up environment.

Extending through 2740.50 would next target 2743.00 and 2746.50. More importantly, an afternoon downdraft would become much more difficult. Meanwhile, almost any bearish scenario today depends upon reacting down from 2740.50 to 2727.00. Extending under 2723.00 would likely close under 2718.00 — probably by a lot.