The First Trade…. Hope springs eternal.

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…
Gapping up Tuesday followed pre-open news from China, which had followed an already gigantic overnight rally. But post-open action didn”t improve, and price ranged flat-to-lower until the afternoon”s bias environment had begun lapsing. Even then, there was a false break up above 1920.00 but it never exceeded its 3-minute high before a sell signal triggered under 1917.75. Confirmation from fresh session lows through 3:10-3:20 then extended down gigantically through the close, fulfilling its minimum objective to probe under Monday afternoon”s lows down to 1860.00. Tuesday”s sellers gained traction for their efforts, similar to Monday”s sellers, who have yet to be rewarded for their efforts.

Overnight action”s new info…
Fresh lows down to 1850.50 were recovered to eventually launch a rally that continues rising at this moment. The rally resumed after reactions down from 1904.00 and 1909.00. and now fresh highs are testing 1915.00.

If, then…
Partially retracing yesterday”s late plunge is normal for a correction. It wasn”t necessary before extending down. But anything under 1916.25 is still within the realm of a temporary correction. Regardless, the gap back to yesterday”s close will require being filled at some point. If not already attracting price down through this morning”s open, then a rally could have clear passage through tomorrow”s open.

First Trade…
Exiting the open at 9:45 above 1899.00 would be likely also to exit the bias timing window at 10:15 above the 1891.75 to renew the bias-up signal. Exiting the open under 1878.50 would be unlikely even to trigger the 1880.75 bias-up signal at 10:15.