The First Trade… All quiet, on all the fronts.

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…
Tuesday morning”s recovery from fresh lows attacking 2096.00 was reversed well into positive territory. But dropping 10 points from 2116.00 had retraced the noon hour”s 6-point surge back through its inflection, and back into negative territory. The trend, itself, had not reversed down, but the attempt to squeeze the morning”s shorts seemed a failure. Was it undone by only having attacked last week”s 2096.00 low, rallying impatiently before a more thorough testing could have formed a more durable bottom?

Overnight action”s new info…
Yesterday;s 10-point drop into the close, and into negative territory, hasn”t extended any deeper. Narrow ranging has gotten volatile, but hasn”t become trending. Surging to 2112.00 into Europe”s opens has ranged widely, down to 2107.50 and back up again.

If, then…
Retracing yesterday”s 6-point noon hour surge was not insignificant. That surge had attracted new sponsorship, extending up another 2 points before peaking. Its reaction down did stop short of retracing back to the 2104.25
last relative low that had preceded the surge. So, duplicating yesterday afternoon”s rally would be credible for extending it much higher this time. The most credible rally attempt would gap up. But attempts to rally from under 2104.25 would more likely be only temporary corrective bounces on the way back down through yesterday”s lows.

First Trade…
Exiting the open at 9:45 above 2114.75 would be likely also to trigger the 2112.00 bias-up signal 30 minutes later at 10:15. Exiting the open under 2108.25 would be unlikely to trigger bias-up. Exiting the open under 2102.25 would be likely to trigger the 2104.25 bias-down signal.