The First Trade… Stretching the rubber band?

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…
Following Sunday night’s “inside day,” opening Monday in the middle of Friday’s non-trending range made intraday trending unlikely. In fact, Monday was an inside day, too. It left outstanding the morning’s 2058.50 bias-down target that had been triggered and not invalidated.

Overnight action’s new info…
Gradual weakness eventually slid sharply to probe Monday’s 2058.50 unfinished business, down to 2056.75. A choppy range has formed there back up to 2062.00.

If, then…
Last night’s action has probed under Monday’s low to barely touch Friday’s low. Not quickly rejecting one test then tends to proceed to the next such attraction. So, isolating the tests to overnight action can avoid retesting Friday’s low intraday, by already probing a prior high above 2066.00 into Tuesday’s open. Otherwise, Friday’s low isn’t obligated to offer much support if tested, and would likelier be probed down to Thursday’s “lower prior highs” under 2049.00.

First Trade…
Exiting the open at 9:45 under 2057.00 would be likely also to trigger the 2058.50 bias-down signal at 10:15. Exiting the open under 2052.00 would be unlikely to recover the 2053.50 bias-down target at 10:15 and renew the bias-down signal. Exiting the open above 2066.00 would be unlikely to trigger bias-down.