Post-open Review… Tried, tried, again.

Pre-open and post-open dips absorbed.

The pre-open rally had tested the 2124.25 bias-up signal, and its reaction had tested the 2114.50 bias-down signal. That was pretty close to the open, but it didn’t equate to being a post-open test of the bias-down signal.

The open’s surge up to 2122.25 reacted down to 2114.75. Another bounce reacted down to 2114.50. Those were post-open, and pretty close to the bias-down signal. But they didn’t qualify as tests, either. And the second test’s reaction up started suggesting that sellers were marginalized.

Holding a test of the bias-down signal would have put into play an offsetting test of the 2124.25 bias-up signal. No need for that — bias-up triggered.

The 2128.00 high that printed by 10:15 has yet to be exceeded. Until it is, the bias-up can still be invalidated by exiting the bias environment back under the 2124.25 bias-up signal. Back under 2123.25 would start to signal momentum reversing down. Exiting the bias environment under its 2114.50 bias-down signal would still put into play its 2109.00 bias-down target.

Otherwise, the 2131.00 bias-up target is in-play. While sellers are marginalized for the morning, fulfilling the bias-up target would be an opportunity for today’s session to peak. Beware of sudden and substantial reversals during this expiration cycle.