The First Trade… Steady as she goes.

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…
Tuesday morning’s rally developed after the open had held the 1950.50 biias-up signal. The no-bias trending was invalidated by exiting the bias environment above the 1955.50 bias-up target. That tends to reflect serious intent, and a mid-day running correction resolved by surging up to 1973.00. Buyer had gained traction already before the close softened to 1967.25.

Overnight action’s new info…
Dipping initially to 1962.75 was recovered 10 points to within 1 tick of yesterday’s 1973.00 high. Another dip attacking 1964.00 is now recovering back to 1970.00.

If, then…
Gaining traction is usually rewarded by trending the next morning, or after being delayed until the afternoon, in either case targeting 1977.00 and 1185.00. The overnight ranging keeps alive the potential for a post-open rally. Expiration’s influences are keeping things lively, and a morning pullback could attack yesterday’s 1957.50 noon hour low. That would have to be done early to maintain its potential for being only a detour, and not a deeper drop targeting 1950.50 or lower.

First Trade…
Exiting the open at 9:45 under 1964.00 would be likely to trigger the 1966.50 bias-down signal. Already under 1957.50 at 9:45 would be likely also to exceed the 1959.75 bias-down target at 10:15 to renew the bias-down signal. Exiting the open above 1970.00 would be unlikely to trigger bias-down.