The First Trade.

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

Through the prior close…
Tuesday”s gap down had been consolidating in a wide but narrowing range, The afternoon bias environment”s 2:30 exit came into view at the range”s 1944.00 midpoint, and the decline resumed with a vengeance by plunging to its 1931.00 and 1927.00 targets. The bias environment”s exit under the noon hour”s range was confirmed by the 3:10-3:20 window trending down to fresh lows, so sellers gained traction for their efforts.

Overnight action”s new info…
Lower lows ahead of the Globex open touched 1924.25. But the mood turned 180 degrees from there, eventually firming to touch 1933.00. Its reaction down to 1926.00 has now been recovered to probe a fresh overnight high.

If, then…
Having gained traction yesterday afternoon, sellers are due a reward for their efforts. That”s usually a trending attempt to fresh lows the following morning. Overnight ranging hasn”t precluded that, and might be wasting buying pressure to try avoiding the inevitable. Having said that, we”ll give a rally every benefit of the doubt if properly signaled, while being prepared to reverse short.

First Trade…
Exiting the open at 9:45 under 1929.75 would be unlikely to trigger the 1931.75 bias-up signal at 10:15. Exiting the open above 1933.00 would be likely to trigger bias-up. And exiting the open above 1939.00 would be likely to renew the bias-up signal by also exceeding the 1937.00 bias-up target through 10:15.