The First Trade… Follow-through.

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 open maintained a gap up above Tuesday’s highs, after Tuesday’s buyers had failed to gain traction for their efforts. This setup didn’t require extending higher immediately, but at least eventually. So, after reacting down from 2052.00 resistance to await the FOMC from unchanged, the rally resumed up to 2068.75. Buyers barely gained traction, and a bullish WedEX triggered.

Overnight action’s new info…
Backing-and-filling down to 2056.00 greeted Europe’s opens back at 2062.50. That firming became a rally to fresh highs attacking 2073.00. That’s now reacting down to test this morning’s 2069.25 bias-up signal as support.

If, then…
Trending higher this morning is likely since yesterday afternoon’s buyers gained traction for the day’s efforts. Gapping up is at risk of prematurely fulfilling the signal and inverting it, but that risk lasts only through the open. Regardless, not gapping down avoids inverting the bullish WedEX signal.

First Trade…
Exiting the open at 9:45 above 2070.50 would be likely also to trigger the 2069.25 bias-up signal at 10:15. Exiting the open under 2064.75 would be unlikely to trigger bias-up.