The First Trade… Still missing the rocket.

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…
Tuesday morning”s bias environment was the session”s only uptrend. The balance of the session trended, too, but only back down to fresh lows. More “unfinished business above” was left outstanding, this time at 2102.00 as an offsetting test of the morning”s bias-down signal. The afternoon”s 2088.75 bias-down target was met, along with its 2083.50 extended target.

Overnight action”s new info…
Choppy action pierced a fresh low momentarily down to 2082.75. That only returned to the 2085.00 area. More recently the choppiness has tried piercing above 2088.00. Those efforts have only returned to the 2084.00-2085.00 area, too.

If, then…
Sellers didn”t gain traction for yesterday”s efforts. Their targets were met and held through relevant timing windows. The last drop to fresh lows waited until after the last two timing windows that would have given sellers traction. So it is assumed by the late sellers” timing that the next leg will be sponsored by strong hands that reverse the downtrend back up, or else extend it down more aggressively. Either one should begin by gapping — whether up above Tuesday afternoon”s high to reject its late extension down, or down below last Thursday afternoon”s low whose upper-end had caused Tuesday”s late extension down to stop.

First Trade…
Exiting the open at 9:45 above 2092.75 would be likely also to trigger the 2091.00 bias-up signal 30 minutes later at 10:15. Triggering the 2079.50 bias-down would be unlikely without also gapping down under it, although exiting the open under 2083.50 could extend down enough anyway.