The First Trade… Holding up, for now.

Proper context can start the day with a solid win and make all the difference… SPECIAL NOTE: THE CHARTROOM ENTRY IS BEING REDESIGNED TO STREAMLINE IT, WHILE ALSO MAINTAINING A RESTRICTED ACCESS. THANK YOU FOR YOUR SUGGESTIONS!

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

Through the prior close…
Wednesday’s opening blip-up to 2152.00 reacted down aggressively, but held 2147.00-2148.00 support. Just as aggressively, 2152.00 was recovered, and that was the end of Wednesday’s weakness. Gradually eking higher eventually tested 2158.00 into the close. No traction was gained, and no new unfinished business was left outstanding.

BOE Monetary Policy Committee members.

Overnight action’s new info…
A brief surge to fresh highs attacked 2161.00, which was retraced as quickly back down to its 2156.00 origin. A choppy sideways 3-4 point range ranging since then has centered around.2156.00-2158.00. This might be considered as anxious paralysis ahead of today’s BOE policy statement, generally expected to ease.

If, then…
Wednesday’s late break higher came too late to gain traction. So, extending its rally must begin by gapping up Thursday. Whether today or tomorrow, a retest of Sunday night’s 2177.75 “new Globex trend extreme” would be in-play. Otherwise, greeting Thursday’s open already in decline would still target a retest of Tuesday’s oversold RSIs at 2141.50.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2160.75 would be likely to trigger the 2159.00 bias-up signal at 10:15. Exiting the open under 2155.00 would be unlikely to trigger bias-up.