The First Trade… Try, try again.

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 pre-open Employment Situation report was greeted at the 2039.00 lows of 2-1/2 week old decline from 2105.00. The next lower objectives at 2030.00 and 2035.00 were fulfilled before the cash session open, which surged immediately to attack 2047.00. Retesting 2035.00 launched another rally, lasting through the close and extending to 2052.00-2054.00. The pre-open low was a “new Globex trend extreme” that will require eventual retest intraday.

Overnight action’s new info…
Sunday night’s 2053.00 open quickly surged to attack 2058.00. Ranging back down to 2053.50 broke lower into Europe’s opens, probing negative territory down to 2049.00. Consolidating the dip for an hour then resolved up to probe fresh highs at 2059.50.

If, then…
Stopping short of 2056.00 Friday afternoon kept the session’s rally from reversing the trend up. If testing 2030.00 and 2035.00 ended the ongoing decline, then gapping up through 2059.50 is the next opportunity to try signaling it. Already testing 2059.50 overnight doesn’t make its recovery likelier, other than the nearer proximity. It’s still resistance, and holding its test still has a big consequence — like Wednesday night’s failed rally.

First Trade…
Exiting the open at 9:45 above 2057.00 would be likely to trigger the 2055.00 bias-up signal at 10:15. Exiting the open under 2052.25 would be unlikely to trigger bias-up.