Post-open Review… WedEXing higher.

Open’s surge renews bias-up.

Last Wednesday’s close had triggered a bullish WedEX signal. Its influence Friday afternoon has extended into the next US morning. As it should, regardless of the Globex action since Friday.

Gapping up to 2353.00 has extended single-mindedly, if not also relentlessly. The first relevant hesitation was well above last week’s highs attacking 2360.00. Persistently overbought 3-minute RSI indicated that 1-minute RSI diverging negatively would likely resolve up.

In fact, the 2361.00 bias-up target was exceeded through 10:15 up to 2363.50. This renews the bias-up signal, next targeting 2365.00-2366.00.

The bullish WedEX’s influences lapses along with the bias environment at 11:30. Extending higher any later or for any longer would not be associated with WedEX. All upside attractions will have been neutralized, including the very recently created “new Globex trend extreme.” The renewed bias-up signal and its target are not requirements.

i.e. Nothing requires extending higher this afternoon, or prevents reversing course back down.

Regardless, new highs are not a sell signal. And trend extremes don’t happen into and/or out of expiration. Overbought RSIs at the 2263.50 high would require its eventual recovery in case a corrective pullback were to develop first.