The First Trade… Ready to resume the rally?

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

Enter the Chartroom here
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Monday”s pre-open firming to 2048.00 extended steeply and substantially. Friday”s Globex plunge from 2063.00 was recovered entirely by the 10:15 bias timing window. Last Tuesday afternoon”s drop from 2074.00 was recovered during the bias environment. Higher highs at 2080.00 stopped 2 points short of touching last Monday”s last relative high. The final hour dipped back down to 2072.25.

Overnight action”s new info…
The final hour”s dip extended slightly lower to test 2070.50 as support. It had been Monday morning”s attraction above, and its support held. Firming into Europe”s opens eventually surged to 2077.50, which had been Monday afternoon”s bias-up signal. Its resistance held, and reacted down to 2071.00. That has now recovered to a fresh high at 2079.25.

If, then…
Yesterday”s late dip wasn”t likely to gain traction for its effort. That didn”t prevent there being potential down to 2066.00 before even beginning to prevent resuming yesterday”s rally. But now that the recovery from 2070.50 has behaved aggressively — surging to 2077.50, twice — post-open action shouldn”t hesitate much before extending the rally. Otherwise, dipping again post-open would put 2066.00 on the radar, if not deeper to 2061.00.

First Trade…
Exiting the open at 9:45 under 2073.00 would be unlikely to trigger the 2077.50 bias-up signal at 10:15. Exiting the open above 2078.25 would start to make the bias-up likelier to trigger.