The First Trade… Now, THAT’S a last-minute plunge.

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…
Friday”s gap down was eventually retraced to fill the gap back to Thursday”s 1986.00 close. But Thursday”s late 42-point surge (which had been preceded by a 42-point plunge) never resumed. Thursday afternoon”s sellers had gained traction, but their influence on Friday”s session was limited to preventing the recovery from extending. Ranging sideways all day ended by surging back up to and through 1986.00 into and out of the cash session close.

Overnight action”s new info…
Sunday night”s open immediately plunged about 30 points to 1959.25. Flat-to-higher ranging since then — through China”s trading and through Europe”s opens — firmed back up to 1973.00 and 1977.25. A reaction down to 1965.25 has largely recovered.

If, then…
Friday afternoon was vulnerable already to plunging back to Thursday”s 1944.00 low. Sunday night”s immediate plunge doesn”t ensure exploiting that vulnerability, not any deeper than already retracing it by 61.8% to attack 1959.00. Exiting the weekend with extreme sentiment can quickly become a sentiment extreme — so, not extending down quickly this morning can instead begin a recovery back up through last week”s highs.

First Trade…
Exiting the open at 9:45 above 1976.25 would be unlikely to trigger the 1970.00 bias-down signal at 10:15. Exiting the open under 1964.25 would be likely to trigger the 1970.00 bias-down signal at 10:15. Exiting the open under 1960.50 would be unlikely to recover the 1963.25 bias-down target at 10:15, renewing the bias-down signal.