Post-open Review… Up, but not necessarily away.

Offsetting test above is in-play.

The overnight dip wasn’t recovered entirely before the open. The open’s fluctuations still touched the 1979.00 bias-down signal. It held through 10:15, triggering no-bias, and putting into play an offsetting test of the 1990.00 bias-up signal.

So, there’s high confidence in the path leading to 1990.00. The gap back to yesterday’s ~1988.00 close should be filled anyway, so its test is likely to be probed by a couple of points. A runaway rally isn’t likely, although an optimistic reaction to this afternoon’s FOMC Minutes is possible — doomed to failure, but possible.

Already a fresh post-open high has touched 1985.75. That was before 10:15, and without probing any higher, exiting the bias environment at 11:30 under the 1997.00bias-down would invalidate the upside objectives.

Details and other markets coverage are discussed in the pre-market Tour recording here:
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