The First Trade & Pre-open Tour Recording… Algos forgot to re-set their clocks?

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday night’s relentless one-way rally from 2362.00 had expressed a lot of optimism ahead of Friday morning’s Employment Situation report. The news did trigger a surge up to 2376.25, but post-open action trended back down. Briefly probing negative territory down to 2359.00 coming out of the noon hour was recovered up to 2370.00 into the close. It was a second consecutive higher close, and the first in seven session not to probe under the prior session’s low.

Overnight action’s new info…
A relatively narrow 3-point range has been restrained from recovering into positive territory above 2369.00. The open’s dip had retested Friday’s last timing window low at 2365.00. Now after attacking it again, a bounce is trying to retest the overnight highs.

If, then…
The narrow overnight range is otherwise uninteresting, except that global exchanges are much firmer. The difference in character does suggest taking credibly almost any post-open rally. But more often it represents an attraction below. Which keeps with the bullish scenario that still allows for retesting Thursday’s oversold RSIs at 2351.00. Quickly probing above Friday’s late recovery high would still get a benefit of the doubt for extending, anyway, attracted to the two-week old 2377.50 gap up bar, if not also to retest the highs up to 2401.00 or even to 2415.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2367.00 would be unlikely to trigger the 2373.50 bias-up signal at 10:15. Exiting the open above 2371.25 would be unlikely to trigger the 2365.50 bias-down signal.