Right on schedule. If your calendar’s broken.

Repeated recoveries finally being rewarded.

Ongoing dips, both intraday and overnight, continued holding the 2090-2095 band of support, making the difference between correction and reversal.

Last night”s drop was the latest. And perhaps it was the last. At least, the last to recover.

The open behaved as expected for trending upward, but not delaying aggressive upward trending from 2095.25. Its mid-morning consolidation from attacking 2104.00 resolved as was expected if the trend remained up, by surging aggressively to fresh highs. No more pullbacks are needed for refueling the rally.

Now, the shallower the pullback, the steeper the resumption. Having surged to 2109.00, a pullback could attack this morning”s high before recovering. Whether or not this morning”s high is actually touched would all but dictate how much higher the high.

My pullback objective is 2103.75, above this morning”s high. Recovering from there could lead to a serious decline Friday, albeit from still higher highs. But first probing under this morning”s high before extending would likely stretch the rally into next week.

Entering the afternoon”s bias environment back under 2099.00 would be bearish. The trend otherwise remains up. And keep in mind that the reversal down should be abrupt and substantial. So last night”s dip was probably the last to recover.