The First Trade… Carving out higher highs.

Proper context can start the day with a solid win and make all the difference.

CHARTROOM LINK <<==click here
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Optimism schooling was back in session. Gapping up Tuesday to test 1938.00 had reversed down enough and in time to avoid triggering the 1927.25 bias-up signal. Dipping deeper through the noon hour targeted 1912.00 and 1907.00, and probed an extra point lower. Entering the noon hour at fresh afternoon highs triggered a short-squeeze that extended up to 1935.00.

Overnight action’s new info…
Capture of US sailors triggered a reaction down to 1922.00 into the Globex open. But that was soon on its way to recovery, attacking 1943.00. Its reaction recovered briefly to probe fresh highs up to 1946.50. That’s reacting back down now to attack 1936.00 as support.

If, then…
Yesterday afternoon’s rally gained traction, which this morning should reward by probing higher during the morning. Already probing higher overnight might seem to confirm, but it also risks already fulfilling the higher probe — especially having come so close to the next higher objective at 1948.00. That should be tested, and potentially also 1975.00, so long as the open doesn’t probe into negative territory too deeply or for too long.

First Trade…
Exiting the open at 9:45 above 1941.50 would be likely also to renew the bias-up signal by exceeding the 1939.00 bias-up target at 10:15. Exiting the open under 1931.00 would be unlikely to trigger the 1933.50 bias-up signal.