The First Trade… Tempered enthusiasm.

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…
Gapping down Friday to retest Wednesday and Thursday’s 1927.00 support once again held through a relevant timing window to establish the range’s lower-end. The balance of the session “rallied” to the pattern’s 1949.00-1950.00 objective — “rallied” to the degree that its intraday uptrend could be considered trending within a larger range.

Overnight action’s new info…
Sunday night’s open immediately resumed Friday’s rally, extending to 1964.00. But that soon peaked, and eventually reversed down to probe negative territory at 1946.50 ahead of Europe’s opens. That proved overly-cautious, as a quick recovery to attack 1960.00 has ranged choppily sideways since then.

If, then…
Buyers didn’t gain traction for their efforts Friday, so extending higher immediately this morning requires gapping up. So, reacting down without reversing the trend helps to maintain the optimism. But if the rally isn’t resumed post-open, then that restrained optimism can quickly become pessimism and drive price back down to well within Friday’s range.

First Trade…
Exiting the open at 9:45 above 1955.50 would be likely also to trigger the 1953.50 bias-up signal at 10:15. Exiting the open under 1946.75 would be unlikely to trigger bias-up.