The First Trade… A little TOO calm.

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…
The first signs of topping appeared Tuesday. After having met the 2128.00 target Monday, and probing room for noise up to 2133.00 by an overnight surge, Tuesday”s open was greeted back under 2128.00 on the way down to 2122.50. The afternoon”s false break higher was reversed to a fresh session low. The close bounced, but sellers gained a little traction by entering the final hour under the bias environment”s range, negating the bias environment”s exit above the noon hour”s range. Meanwhile, unfinished business was left outstanding below at 2119.25.

Overnight action”s new info…
Choppy sideways action has avoided touching yesterday”s low, repeatedly testing 2122.00 and bouncing to 2126.00.

If, then…
Tuesday”s 2134.00 pre-open high doesn”t require a retest, but it is still an attraction until momentum reverses down. Testing 2119.25 below can be ignored temporarily by a detour back to the highs, or tested without reversing momentum down. Opening in rally mode would be credible for trending up this morning. Not opening in rally mode would be likelier to probe fresh lows, becoming vulnerable to extending down if not recovered almost immediately.

First Trade…
Exiting the open at 9:45 above 2130.25 would be likely also to trigger the 2128.50 bias-up signal at 10:15. Exiting the open under 2125.25 would be unlikely to trigger bias-up.