The First Trade.

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

Through the prior close…
Wednesday”s rally to 1992.50 neutralized Tuesday”s “unfinished business” at 1990.50. Room for noise above it 1 point higher wasn”t touched. But all of Tuesday”s range was recovered in an “outside day” that left no unfinished business below.

Overnight action’s new info…
A flat Globex open eventually started sliding into its 1987.25 low at Europe”s 3:00am ET opens. Reversing back up from there has been resisted by unchanged at 1991.50.

If, then…
I noted in the today”s Trading Plan that negative territory could be probed down to 1987.25 without getting away from the recovery. Having fully exploited it overnight, there is no excuse not to try extending the rally this morning. Maybe one excuse, the lighter volume from today”s Jewish holiday. If the rally does resume pre-open, then lighter volume would become a challenge to maintaining the momentum — yesterday”s last hour 1990.00-1992.50 range would try to attract price down. Trending through the open would find low volume to be more of a protector, because that”s a difficult environment to reverse trending.

First Trade…
Exiting the open at 9:45 above 1995.00 would also likely trigger the 1993.50 bias-up signal at 10:15. Exiting the open under 1987.25 would be likely at least to test the 1985.00 bias-down signal, but not necessarily trigger it.

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