The First Trade… Not backing down.

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…
After retracing Wednesday”s gap up from testing 1938.00 back down to unchanged attacking 1916.00, price firmed back into the afternoon”s econ report testing 1936,00. A couple of attempts to reverse back down were absorbed, not necessarily easily, before the last several minutes surged to attack 1947.00 and 1949.00 into and out of the cash session close.

Overnight action”s new info…
Surging after the Globex open extended up to 1957.50. That was retraced entirely to attack 1944.00. But, much like Wednesday afternoon”s failed reactions down, not actually reversing the trend only led to another surge. Piercing the.original surge up to 1958.50 has since been hovering above yesterday”s close

If, then…
Not breaking beyond the range by Wednesday”s close before a three-day weekend, price action is likelier to remain within the range. The next nearest attraction above is Monday”s “higher prior lows” at 1967.00. Despite gapping up, its test need not be attacked aggressively. Retracing much of yesterday”s late surge is possible while still resolving up. The only bearish scenario prior to re-testing Monday”s range would be to retrace all of yesterday”s late surge.

First Trade…
Exiting the open at 9:45 under 1953.50 would be unlikely to also exceed the 1954.75 bias-up target at 10:15, which would renew the bias-up signal. Exiting the open above 1957.25 would be likely also to recover the bias-up target at 10:15. Exiting the open under 1943.25 would be unlikely to trigger the 1948.75 bias-up signal at 10:15.