The First Trade.

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

Enter the Chartroom here (pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Friday morning”s dueling Grexit headlines (deal/no-deal) stopped influencing price action, word of a delay did then drive the market down. Through the open. Its fourth consecutive gap down was the first not to hold a test of the bias-down signal, and instead held a test of the bias-down target down to 2082.50. Apparently, that finally stretched the rubber band sufficiently, since the balance of the session rallied to 2108.50 as an accord between the Eurogroup and Greece was reached. Expiration and the Friday Factor helped. The last outstanding upside target at 2101.50 was neutralized, while creating a new objective with overbought RSIs into the final hour.

Overnight action”s new info…
Goodbye, 26-point rally. Hello, 6-tick trading range. Price began trending down under 2106.00 ahead of Europe”s opens, slowing and consolidating within a couple of ticks of 2101.50 support. Its momentary touch has reacted up to attack 2104.00.

If, then…
Is Greece still there? I mean that figuratively, although someone in the vicinity might want to check for a pulse. Perhaps their seeming non-existence is just an illusion created by the sudden relative quiet, compared to last week”s headline saturation. The quiet can facilitate a gap down, but it”s currently too shallow to prevent retesting Friday”s high.

First Trade…
Exiting the open at 9:45 under 2101.50 would be likely also to trigger this morning”s 2103.25 bias-down signal at 10:15. Exiting the open above 2107.00 would be unlikely to trigger bias-down, and exiting the open above 2108.50 would be likely to trigger the 2109.50 bias-up signal.