Post-open Review… The white space wins.

Gapping up into untested territory finds natural resistance.

The overnight 2636.00-2648.00 range resolved up sharply to test 2655.00. Reacting down to 2649.00 had recovered entirely by the open, which then improved only momentarily to attack 2657.00. But the open only fluctuated around 2656.00.

A 10-point drop tested the 2647.00 bias-up signal, which held. So did a retest, triggering bias-up. Its 2653.00 bias-up target was met already, and it’s being tested again now up to 2655.00.

This is still a bias-up environment, so higher highs are likely. But it is difficult to attract sponsorship for trending ahead of the afternoon’s FOMC events. Meanwhile, the bias-up environment can retest its bias-up signal as support, which would become more vulnerable to breaking lower as the bias window lapses.