Post-open review… Session-long premise.

Post-open surge extends through air pocket.

Opening at 2097.00-2098.50 surged up to 2102.75, before dipping to 2100.00. That was the lower-end of an air pocket we began discussing yesterday afternoon, which the FOMC reaction stopped short of touching.

It compensated for its delay.

A deeper dip to 2098.25 would have been optimal. But reacting down to 2100.00 launched another surge to 2105.75. Its reaction down held its 2103.50 pullback limit to launch yet another surge to 2109.00.

2111.00 was just touched, taking 1-minute and 3-mijnute RSIs overbought again to protect against a reaction down from gaining traction. But back under 2108.00 could still dip to 2103.50 or 2101.00 without reversing the trend down.

A couple of notes:

First, gapping up today above yesterday afternoon”s high rejected the dip into yesterday”s close. Yesterday afternoon”s high printed after the bias environment began lapsing, and a little earlier would have allowed today”s gap up to form a session-long rally. Nevertheless, we”re going to compare today”s price action to the session-long rally template. It would expect only each timing window to probe above the prior timing window”s high, with one exception — usually the noon hour.

Second, gapping up today above yesterday afternoon”s high also served by proxy to update WedEX to late-active bullish. Timely active would be more reliable, but the template for an upward bias Friday afternoon and Monday morning will be applied.