The First Trade… Onwarded and upwarded.

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…
Tuesday morning’s gap up preserved much of the holiday rally. But post-open action dipped. Not immediately — in fact, late enough to indicate its sponsorship was weak-handed and temporary. It was meanwhile productive, but testing the morning’s 1871.50 bias-down target launched a reversal that stopped less than 1 point short of holiday’s high at 1892.00 where the afternoon ranged sideways.

Overnight action’s new info…
Tuesday afternoon’s ranging soon broke higher to 1897.50. That was already calculated to be this morning’s bias-up target. Then it broke lower to test this morning’s 1882.00 bias-down signal. Rallying into and out of Europe’s opens has extended to 1905.75.

If, then…
Despite buyers not gaining traction yesterday afternoon, a reward was still in order for having absorbed the morning’s dip. Its minimum higher objective at 1907.00 is being attacked pre-open. And despite buyers not gaining traction yesterday, the rally can resume immediately by gapping up. And by maintaining the gap up.

First Trade…
Exiting the open at 9:45 above 1907.00 would suggest the balance of the morning will extend higher, potentially targeting 1920.00. Exiting the open at 9:45 under 1898.25 would be unlikely to exceed the 1897.50 bias-up target at 10:15, and then not to renew the bias-up signal.