Post-open Review… Spriiing, spriiing, sprii-?

Optimism persists ahead of the afternoon FOMC events.

The pre-open pullback to 2067.50 had recovered to greet the open piercing back above the 2069.75 bias-up signal. Post-open action trended up to within 2-3 ticks of the 2076.00 bias-up target.

But no higher.

This is a bias-up environment. Although its target hasn’t been met, it has been met closely enough to prevent it from becoming “unfinished business above” if not met this morning. Still, being a bias-up environment, extending higher is possible despite not renewing the signal.

Not likely.

Strong-handed buyers will be difficult to attract with the afternoon’s FOMC news looming. Meanwhile, the bias-up environment could still dip back down to attack or test its 2069.75 bias-up signal as support.