Pre-close View… Waiting for intel on INTC.

Post-close earnings inhibiting trending.

The open’s gap up did extend higher, essentially immunizing the morning from reversing down. The extension peaked at 2097.75, which is 3 ticks below the overnight high’s “new Globex trend extreme” that requires eventual retest intraday.

Probing negative territory during the open would have trended down sharply for the day. But probing negative territory during the noon hour was easily absorbed, and recovered.

At least, the dip to 2085.00 has been retraced up to 2094.75. Potential for trending to fresh highs seems inhibited. The bias environment’s exit above the noon hour’s high wasn’t confirmed. Perhaps INTC’s post-close earnings news is weighing on the market.

There is nothing distributive about today’s session. Any immediately pullback would be likely to recover. Meanwhile, the rally remains more vulnerable to extending.