The First Trade.

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

Enter the Chartroom here (pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Gapping open to 1911.00 Tuesday extended higher instead of reversing down, making it likely that sellers were marginalized through the morning or noon hour. Trending up through both to 1928.00 was retraced a little into the bias environment, which resumed the rally to 1936.00. A pre-open dip was recovered to almost 1940.00 before the Globex open.

Overnight action”s new info…
One of the two bearish scenarios I describe in today”s Trading Plan was tracked perfectly. The Pivot Reversal: Gapping down into a shallow pullback that recovered to fresh highs up to 1943.75, then reversing down to fresh lows at 1930.75. But being overnight, its bearish influence is may be moot at the cash session open

If, then…
Overnight action is essentially the Pivot Reversal pattern I describe in the Trading Plan, which is one of two bearish scenarios. Yesterday afternoon”s last pullback was from 1936.25 down to 1931.50. Greeting the cash session open beyond either end of that swing low would be likely to extend in that direction. If higher, then there is still the potential to hold an early test of 1941.00. Already having formed a pattern overnight, it is difficult to repeat it at the open, so not extending down already at the open could itself be bullish.

First Trade…
Exiting the open at 9:45 under 1933.25 would still be unlikely to trigger the 1936.00 bias-up signal at 10:15. Exiting the open above 1938.75 would be likely to trigger bias-up. Exiting the open above 1943.00 would be likely also to exceed the 1941.00 bias-up target through 10:15, which would renew the bias-up signal.