The First Trade… Pessimism is alive and, well, it’s alive.

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 2122.75 pre-open high during Globex was not complex, so it was not a “new Globex trend extreme” that required intraday retest. Sellers tried to exploit it, but the morning”s reaction down to 2113.00 held repeated tests of Thursday afternoon”s 2115.00 prior low. The bullish WedEX presumably became operational as the afternoon rallied back up to 2119.50.

Overnight action”s new info…
Sunday night”s open blipped-up to touch 2120.75 before reversing back down to attack 2115.00. Europe”s opens were accompanied by a dive to 2112.25. Despite recovering back to 2120.00, renewed weakness is attacking the low.

If, then…
Regardless of the opening print, the bullish WedEX makes Monday morning”s bias vulnerable to trending up. It was a late signal, and its influence Friday afternoon is only assumed, so its continued credibility depends upon exiting the open appropriately. Regardless of this morning”s resolution, sellers are still considered the weaker hands, since each lower high reflects pessimism that isn”t gaining traction.

First Trade…
Exiting the open at 9:45 under 2115.00 would be likely at least to test the 2111.75 bias-down signal. Exiting the open above 2119.75 would be likely at least to test the 2123.25 bias-up signal. No preliminary level is currently identifiable that would be any likelier to trigger either signal