Post-open Review… Support reacts.

Pre-open resistance test pushes back to support. Which pushes back, too.

The overnight rally had pierced this morning’s 2569.00 bias-up target by 1 tick. Its reaction down through the open touched this morning’s 2563.50 bias-up signal. A bounce retraced 61.8% of that drop, and dipped back down to 2563.50. RSIs diverged positively on the retest and launched a slightly bigger bounce.

Reaction to a favorable Fed headline triggered a surge through the overnight high up to 2572.50. That was done in 3 minutes, but consolidating since then has held at least 3 ticks above the 2569.00 bias-up target. So, this morning’s bias signal is renewed.

Renewed bias-up effectively targets a retest of Sunday night’s 2577.25 high. One caveat to extending higher is the surge’s catalyst being a headline. Renewed bias-up is less reliable anyway, and the bias-up environment is required only to be supported by the 2563.50 bias-up signal if retested.

Back under 2569.00 would threaten a morning retracement, and it’s being tested now. But fresh session highs would help to confirm the morning’s rally is extending higher, especially if maintained when exiting the bias environment.