The First Trade… Back in the saddle.

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…
Monday choppy open attacked Sunday night’s 2019.50 high to within only 6-9 points. It ultimately slid through the noon hour to test its lowest objective at 1983.50. Rallying through the noon hour back to attack 2010.00 consolidated around unchanged. Not until the 3.37-3:52 position-squaring window began lapsing did price firm back to the morning’s highs. That was too late to gain traction for the effort, but no “unfinished business below” was left outstanding.

Overnight action’s new info…
Initially extending higher Monday night attacked Sunday night’s 2019.50 high to within 3 ticks. Consolidating back down to 2010.00 finally resumed rallying at Europe’s opens. Attacking 2027.00 has since been consolidating.

If, then…
A trending effort that doesn’t gain traction requires gapping up above relevant resistance to extend the trending without delay. Tuesday’s relevant resistance is 2022.50, which is being probed. Maintaining its recovery would next target 2032.00-2033.00 and a test of 2040.00. Rejecting 2022.50 through the open could find support at yesterday afternoon’s 2001.25-2005.00 “lower prior highs” before threatening to resume the decline.

First Trade…
Exiting the open at 9:45 above 2026.25 would be likely to renew the bias-up signal by also exceeding its 2022.50 bias-up target through 10:15. Exiting the open at 9:45 under 2015.25 would be unlikely to trigger the 2017.25 bias-up signal at 10:15.