The First Trade… One-way street.

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…
For never committing either way, Tuesday’s session ranged widely. The first hour offered a glimpse by its opening dip to fresh lows at 1866.00 which then reacted up to 1890.00. Trending down through the noon hour was corrected during the bias environment, and then extended to even lower lows until the last half-hour. The lowest low stopped 2 ticks optimistically short of touching the 1861.00 overnight low before reacting up. The impatient buying persisted, extending the reaction up to the 1877.00 bias environment exit.

Overnight action’s new info…
Tuesday afternoon’s sellers had gained traction by entering the final hour under bias environment low, and then extending through the 3:10-3:20 timing window. But the evening’s 7-point dip to 1871.00 reacted up sharply, and extensively. Last week’s 1897.00-1899.00 lows are now being probed above 1900.00.

If, then…
Whatever traction gained by yesterday afternoon’s sellers can be rendered moot by a gap up maintained above the session’s 1890.00 high and by trending up through the opening 15 minutes of volatility. Failing either condition still might not reverse back down immediately, but extending any higher would be only temporary. Extending higher only temporarily can still be pretty productive, up to 1904.75 or to 1915.00 — retesting yesterday’s lows from too high and after too long would find expended buyers unable to prevent a deeper decline.

First Trade…
Exiting the open at 9:45 above 1897.00 would be likely also to exceed the 1892.00 bias-up target at 10:15 to renew the bias-up signal. The renewed bias-up signal is next targeting 1899.00.