The First Trade… Hard landing, on AAPL’s back.

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…
We knew before Monday”s close that not gapping up Tuesday would mean trading flat-to-lower, probably trending down, but to no particular degree. Selling could hardly wait, and could barely stop. A pre-open touch of the 2117.50 bias-down signal had held, but it was broken sharply after triggering no-bias. And it extended down to 2108.00 intraday, triggering the afternoon”s bias-down. Optimism ahead of AAPL”s earnings enabled bouncing back to 2113.00 and then to 2114.00, leaving unfinished business below at the 2105.50 bias-down signal.

Overnight action”s new info…
AAPL”s earnings warning triggered a plunge through Tuesday”s low to 2107.00. It was extended overnight to touch 2105.50. Briefly probing lower another point was recovered back up to 2108.00, and now 2105.50 is trying to hold another test.

If, then…
Room under the 2105.50 target includes 2103.00. Its test will be likely if the open isn”t being greeted by a recovery already underway back into positive territory. Extending down is possible, but less likely since sellers gained no new traction yesterday afternoon.

First Trade…
Exiting the open at 9:45 above 2112.25 would make the 2109.00 bias-down signal unlikely to trigger at 10:15. Exiting the open under 2105.50 would be likely to trigger the 2109.00 bias-down signal. Exiting the open under 2103.00 would be likely also not to have recovered the 2103.75 bias-down target at 10:15 which would renew the bias-down signal.