The First Trade… Optimism resurfacing.

Proper context can start the day with a solid win and make all the difference.

This morning”s chaRTroom links:
NOT xp-friendly (ilinc/Mitel)
XP-Friendly (Anymeeting)
— Last night”s candidate test is done —
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Tuesday”s open was on its way to recovering from an overnight dip. A Grexit headline retraced the recovery attempt from 2109.25 back down through the 2101.25 pre-open low, falling to fresh lows at the morning”s 2098.00 bias-down target. The morning broke lower to 2090.00, and a noon hour bounce to almost 2097.00 was reversed to 2081.25. Sellers gained traction for their efforts, exiting the bias environment under the noon hour”s low, and entering the final hour lower.

Overnight action”s new info…
Tuesday afternoon”s drop was partially recovered to 2092.50 before another dip returned to Tuesday afternoon”s 2081.50 low. The dip was eventually recovered entirely back up to 2092.50, and its reaction is now trying to resume the recovery.

If, then…
There”s no “unfinished business below” attracting price lower. But today”s open might make one, a gap back down to yesterday”s ~2083.50 close. Its near-term attraction could become irrelevant if the open were to extend above yesterday afternoon”s 2090.75 high. That could form a bullish “session-long rally” setup. Gapping up without extending would not complete the setup, which could be as bearish as the completed setup would have been bullish.

First Trade…
Exiting the open at 9:45 above 2090.75 — and preferably also above 2092.75 — would be likely also to trigger the 2089.75 bias-up signal 30 minutes later at 10:15. Exiting the open under 2085.00 would be unlikely to trigger bias-up.