The First Trade… Oops, it did it again.

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

CHARTROOM LINK(s)
o New! Omnistream
o backup (launched AFTER the tour)
(pre-open Market Tour begins at 8:55 ET)
* backup is launched AFTER the Tour

Through the prior close…
Yesterday’s last half-hour bore not even a passing resemblance to the rest of the session. The rest of the session was about selling — gapping down 35 points to 2000.00, extending down almost 20 points more to attack 1980.00, retracing a bounce from its 1997.00 peak down to 1984.00. Without any accumulation preceding it, yesterday’s last half-hour surged suddenly, 25 points into and out of the close. A buy signal finally triggered as the surge passed through 1994.75, reaching 2008.00-2010.00 into and out of the close.

Overnight action’s new info…
The late surge followed-through up to 2017.00. It was on the way to being retraced by midnight, and treading water into Europe’s opens. That was the last straw, triggering a slide attacking 1992.00 and then hovering around yesterday’s late 1994.75 buy signal up to 1998.00.

If, then…
2008.00-2010.00 would have been sold if tested initially at yesterday’s open. Testing it at yesterday’s close was similar, especially when originating so late and without prior accumulation. Sliding overnight hasn’t yet confirmed confirm this. The retracement must still reject yesterday’s late 1994.75 buy signal, which is more difficult since it was so productive. Filling the gaps back to yesterday’s 2005.00 and 2009.00 closes can’t yet be dismissed in even the most bearish scenario — similarly, their recovery could be bullish.

First Trade…
Exiting the open at 9:45 under 1989.00 would be unlikely to recover the 1993.50 bias-down target through 10:15, which would renew the bias-down signal. Exiting the open above 2001.50 at 9:45 would be unlikely to trigger the 1999.00 bias-down signal at 10:15.