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…
Tuesday”s gap up both fulfilled Monday”s “ineffectual pessimism,” and neutralized all outstanding “unfinished business above.” Coming within 3 ticks of testing Monday”s outstanding 2021.25 bias-up target then reacted down and extended without hesitation to 2008.75. Flat-to-higher ranging back to 2018.00 momentarily blipped-up another point before the close.

Overnight action”s new info…
Dipping gradually down to 2012.25 has been recovered back up to 2018.00. That is reacting down now to 2014.50.

If, then…
While all unfinished business above has been neutralized, there remains potential to test 2022.00. Neutralizing the other attractions has been done almost grudgingly, keeping alive pessimism that could be bullish from a contrarian perspective. So, the proximity to 2022.00 makes it less resistant to a probe higher. At least, that will be the premise of any probe higher, until it is retraced too deeply.

First Trade…
Exiting the open at 9:45 above yesterday”s 2019.75 open would be likely also to have tested the 2022.75 bias-up signal. Being more likely to trigger bias-up at 10:15 will need to have exited the open above 2021.00. Exiting the open under 2013.50 would be likely at least to test the 2011.25 bias-down signal.