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 drop bottomed within 3 ticks of the decline”s 1983.50 target. Two buy signals triggered before the bias environment began lapsing. “Unfinished business above” at 2011.50 was attacked to within 2 ticks. The last half-hour retraced 61.8% of the recovery, back down to 1994.00 support.

Overnight action”s new info…
.Yesterday”s late retracement is almost fully recovered to within 2-3 ticks of 2010.00.

If, then…
Significant selling pressure was met at yesterday”s lows, which tested and held targets. Optimism was restrained during yesterday afternoon”s relatively shallow bounce. “Unfinished business above” is left outstanding. Extending the rally should be easy — so easy, that not extending it would suggest a much bigger decline is unfolding.

First Trade…
Exiting the open at 9:45 under 2000.00 would be unlikely to trigger the 2011.50 bias-up signal. Exiting the open above 2014.25 would be likely to trigger bias-up.