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 bias environment initially extended the noon hour”s rally up to 2057.75, but then dipped 7 points and still held above the noon hour”s range. Fresh highs weren”t probed until after 3:20, and the probe peaked upon filling the gap back to Monday”s 2060.50 close.

Overnight action”s new info…
Narrow ranging between 2055.00-2060.00 has just probed lower to test 2053.00. That”s natural support, being a 61.8% retracement of yesterday”s bias environment pullback.

If, then…
Despite exiting the bias environment above the noon hour”s high, yesterday”s buyers gained no traction for their efforts, since neither of the remaining windows contained a fresh high. And no unfinished business was left outstanding, since the rally”s next target was fulfilled and the gap was filled, both without closing above them. Still, a probe of fresh highs can”t be precluded before reversing down. And a probe of fresh highs could still extend higher, albeit still vulnerable to failure.

First Trade…
Exiting the open at 9:45 under 2052.50 would be likely also to trigger the 2051.50 bias-down signal at 10:15. Exiting the open above 2057.50 would be unlikely to trigger bias-down.