The First Trade… Correcting weak strength is weak.

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…
Gapping up Wednesday quickly probed a fresh high, but it’s only reaction down was shallow and brief. Along with being in the orbit of “unfinished business above,” the pattern resolved differently from the three prior sessions’ gaps up. Extending higher satisfied those attractions with a new trend high close at 2076.00. Afternoon buyers gained no traction for their effort, but higher objectives were created.

Overnight action’s new info…
Room for a pullback down to 2068.25-2069.00 was almost fully utilized while sliding into and out of Europe’s opens. That has been recovered entirely back up to unchanged.

If, then…
So long as Thursday’s open doesn’t reject Wednesday’s close above 2073.00, extending the rally would next target 2082.25-2086.50, and potentially 2105.00. Yesterday’s post-open rally wasn’t especially strong, but that could have been enhanced by testing the minimum target overnight. Not already probing higher has missed a preservation tactic that many durable rallies use. So, rather than create unfinished business above to help ensure a later recovery, a post-open pullback testing 2068.25-2069.00 might be unavoidable. And if not brief, then a bigger reversal would start becoming likely.

First Trade…
Exiting the open at 9:45 under 2073.00 would be unlikely to trigger the 2077.00 bias-up signal at 10:15. Exiting the open under 2064.50 would be likely to trigger the 2068.25 bias-down signal.