The First Trade… Coming down to it.

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

CHARTROOM LINK
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Friday’s expiration open had recovered from an overnight drop to 2176.50. The 2185.50 opening print was up 6 ticks, but it didn’t hold after blipping-up to 2187.50. Reversing down sharply attacked the overnight low to within 1 point at 2177.50. The balance of the session ranged sideways, resisted up to 2182.75. The bearish WedEX’s influence was minor, if any, but not contradicted or invalidated

Overnight action’s new info…
Gradual firming was soon hovering back in the 2185.00-2186.00 zone until Europe’s opens. A mini-plunge down to 2179.25 was recovered as quickly, and more so, piercing a fresh high at 2186.00.

If, then…
The bearish WedEX setup influence should send price trending down post-open, regardless of the opening print, and whether or not the slope is steep. The slope should be steeper than shallow, since Friday’s influence was nominal. And the opening print should still be within the current range. So, we’ll consider the WedEX influence moot only after gapping up above 2185.00-2186.00, or if not reversed down fast. Meanwhile, we’re also sensitive to the ongoing rally injecting a pullback to at least 2162.00, before that opportunity is inhibited by Thanksgiving’s seasonal bullishness. But the pullback potential could become a multi-session short-squeeze on the way up to 2220.00 if gapping up above 2185.00-2186.00 were maintained through the open and extended above 2192.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2186.25 would be likely to trigger the 2185.00 bias-up signal at 10:15. Exiting the open under 2180.75 would be unlikely to trigger bias-up.