Post-open Review… Testing another objective.

Rally’s next objective met, holding.

The open was greeted by a a 4-hour channel ranging around this morning’s 2141.00 bias-up target. Immediately breaking higher extended to 2145.25, neutralizing the rally’s next higher objective at 2143.00.

The entire opening 15 minutes of volatility trended up 4-1/2 points. Price action since then has only trended down 7 points, and just attacked 2138.00.

While the reversal down has dipped deeper and lasted longer, it can’t change history. And trending higher after gapping up created an anchor to prevent a reversal down from gaining traction.

That doesn’t prevent attempting to trend down. The bias-up target held through 10:15 to avoid renewing the bias-up signal. But this is still a bias-up environment. Dipping during it has room down to the 2135.00 bias-up signal without even threatening to reverse the trend down.

Back above 2142.50 would start to signal the dip had ended and the rally was resuming. Meanwhile, further backing-and-filling through the morning or later remains possible.