Post-open review… The circle of life.

Pre-open firming, post-open surge, post-surge plunge.

The open avoided signaling that the range-bound action would persist. Firming to fresh highs into the open enabled a surge to test the 2104.00 bias-up target. Its reaction down to 2101.50 was recovered to fresh highs at 2106.75.

Bias-up was renewed, putting into play a renewed target at 2110.00. And there”s no reason to touch 2110.00 other than to confirm yesterday”s breakout targeting new highs.

But beware the headlines.

Several minutes after violating a pullback limit at 2105.25, the IMF was described as differing from the Greece deal. That triggered a spike down to 2100.00 and 2097.75. This being a bias-up environment, the 2098.75 bias-up signal should define the range”s lower-end if tested.

Reacting back up above 2101.50 is trying to signal the dip is done, and momentum is reversing up. Just holding above 2099.25-2100.00 keeps sellers from regaining traction. But since there has been no fresh high since before 10:15, exiting the bias environment at 11:30 under 2104.00 would be difficult to resume rallying again today.