The First Trade… Fattening it up for the kill?

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 gap down barely tried recovering before extending even lower through the noon hour down to 2090.50. The afternoon’s bounce  to 2100.00didn’t reverse the trend back up, and “unfinished business below” was left outstanding at the 2088.25 bias-down target.

Overnight action’s new info…
Firming up to 2098.00 was contained easily within yesterday afternoon’s range. A 6-point drop at Europe’s opens was recovered entirely, first back up to 2098.00, and then through yesterday afternoon’s 2101.00 high to attack 2105.00.

If, then…
Gapping up above yesterday’s 2100.50 noon hour high might not be enough to break the attraction to 2088.25 below. It might, but recovering 2105.50 would be more assuring. Anyway, the reward would be to probe Tuesday’s 2110.25 high, probably up to 2113.00 or could allow probing Tuesday’s 2110.25 high before 2117.00. BOJ and BOE overnight endorsed lower rates, prompting the overnight rally. But a litter of Fed speakers are scheduled throughout today who are likely to promote the opposite.

First Trade…
Exiting the open at 9:45 above 2104.50 would be likely to trigger the 2101.00 bias-up signal at 10:15. Exiting the open under 2099.00 would be unlikely to trigger bias-up. Exiting the open above 2109.25 would become likely also to exceed the 2107.00 bias-up target at 10:15 to renew the bias-up signal.