The First Trade… Follow-through.

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

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Through the prior close…
More than being maintained, Monday’s gap up above prior highs trended upward to 2132.50 through the opening 15 minutes of volatility. This setup essentially marginalizes sellers from retaking control. But it doesn’t necessarily prevent downdrafts, like the post-open dip back to Friday’s 2125.50 high. Its touch reacted up aggressively to attack 2137.00 through the noon hour. Ranging choppily into the final hour didn’t gain traction, letting the day end by dipping to 2129.00.

Overnight action’s new info…
Choppy ranging was resisted by 2132.50 until breaking higher ahead of Europe’s opens. That became a surge through Monday’s highs testing 2138.00. A 4-point correction resolved up to fresh highs at 2141.50.

If, then…
At least one eventual new high close is required because Friday’s breakout was confirmed by Monday’s second consecutive higher close. That need not be today, but the “unfinished business above” does make it more difficult to reject a gap up. Reacting down from attacking, fulfilling or probing the 2143.00 objective might not be avoided, but it would likely be recovered.

First Trade…
[Click here to view the Bias parameters] Exiting the opening 15 minutes of volatility above 2143.00 would be likely also to exceed the 2141.00 bias-up target through 10:15 to renew the bias-up signal. Exiting the open above 2137.50 would be likely to trigger the 2135.00 bias-up signal at 10:15.