The First Trade… Flat-to-higher.

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

CHARTROOM LINK
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Friday’s open didn’t gap up, making fresh session highs unlikely, since Thursday had not gained traction for its effort. Sellers didn’t exploit the weakness much beyond remaining under pressure into the afternoon. Ultimately, it was an “inside day” on a Friday, without wide-ranging extremes, and no unfinished business was created..

Overnight action’s new info…
Sunday night opened flat with Friday’s 2180.00 close and gradually firmed to attack Friday morning’s 2183.00 high. It had been probed by another point well before Europe’s opens, which suddenly got volatile. A blip-down to 2182.00 had been recovered one hour later to pierce last week’s high by 2 ticks up to 2185.75. Rather than extend, that has reacted back down to 2183.00.

If, then…
Thursday’s probe above prior highs to 2185.25  had indicated it was unlikely to extend Friday, because its close was back under the 2183.50 prior highs. That indication was influential but it hasn’t yet been productive — Thursday’s probe didn’t extend Friday, but it hasn’t reversed the trend back down. Not, yet. Not ever if the overnight probe back above both 2183.50 and 2185.25 isn’t rejected this morning. There’s only several ticks above of room for noise, and maybe only several minutes to set a tone for today — either resuming Friday’s break lower, or continue gravitating higher.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2185.50would be likely to trigger the 2184.00 bias-up signal at 10:15. Exiting the open under 2180.00 would be unlikely to trigger bias-up.