The First Trade… A holiday dream?

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

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Wednesday’s pre-Thanksgiving session followed tradition by almost literally dying on the vine. Volume and participation evaporated, leaving no sponsorship for trending away from 2088.00. The only thing at all surprising was the limited trending attempt that morning down to 2083.25.

Overnight action’s new info…
The window for a correction having ended, the rally was free to resume. Seemingly, it did so Wednesday night. Price had firmed by ranging flat-to-higher. But Europe’s opens Thursday triggered a 10-point rally to test 2098.00. Thursday night’s Globex session retraced that surge, to 2083.25 into Europe’s opens. A bounce is ranging narrowly between 2088.00-2091.00.

If, then…
If the rally is ready to resume, then Wednesday night’s action into Thursday should be resumed today. But the open should behave as if Wednesday night’s attempt was premature, and not delay repeating it. Light volume traditionally allows price to drift in one direction or the other into the early 1:00pm ET close. Although not as likely, that could still be down if the bias-down were to trigger.

First Trade…
Exiting the open at 9:45 above 2088.00 would be unlikely to trigger the 2084.50 bias-down signal at 10:15. Exiting the open above 2091.00 would be likely to trigger the 2090.00 bias-up signal.