The First Trade… Locked, and loaded.

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…
Plunging in reaction to Friday’s pre-open payrolls number had extended down through the open. Support was finally found within 1 tick of the 2082.50 renewed bias-down target. Its reaction up into the final hour tested 2101.00, which was 2-3 points short of regaining positive territory. But the rally gained traction by exiting the bias environment above the noon hour’s high, and then entering the final hour higher.

Overnight action’s new info…
Ranging flat-to-lower greeted Europe’s opens at 2095.00. That triggered a surge through Friday’s recovery high, still several ticks short of Thursday’s close

If, then…
Gapping up isn’t necessary to resume the rally without delay this morning, or to rally from a weaker open. But Friday’s payrolls shock seems to have been a detour, instead of its bounce only refueling sellers. And this weekend’s pro-Brexit gains seem irrelevant, after having been responsible for reversing last week’s initial probe of fresh highs. Without reversing another fresh high, or extending any early weakness, the coast seems clear for a broad rally effort targeting 2116.00-2119.00 .

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2105.50 would be likely to trigger the 2103.00 bias-up signal at 10:15. Exiting the open under 2095.75 would be unlikely to trigger bias-up.