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)

Last night”s Training Session
“Strategy & Tactics” is linked here

Through the prior close…
Thursday”s session was spent exclusively in negative territory. Bias-down triggered late, and after already having tested its bias-down target. But the bias-down target was retested, and eventually probed by a couple of points. Firming through the noon hour wasn”t retraced, but the afternoon only ranged choppily sideways. No unfinished business was left outstanding.

Overnight action”s new info…
There was never any momentum to initially probing under yesterday afternoon”s choppy range. Yesterday morning”s 2076.50 lows were attacked to within 5 ticks. That hesitation soon ended, and the balance of the night has trended back up to now pierce yesterday morning”s 2089.50 post-open high.

If, then…
Yesterday morning”s post-open high formed in reaction to having tested support at its bias-down target. That high was strong enough resistance to prevent further recovery, and to force a retest of the bias-down support. Testing it now can also be considered a test of this morning”s 2088.00 bias-up signal. Not only triggering bias-up, but also gapping up and immediately extending higher, may be today”s only path to resuming the rally. This being a Friday when the morning”s bias signal tends to persist through the noon hour, probing Wednesday”s highs is not unlikely. There is no particular bearish consequence to this pattern not maintaining a gap up — worse, the balance of the session might only repeat yesterday afternoon”s choppy sideways ranging.

First Trade…
Exiting the open at 9:45 above 2090.25 would be likely also to trigger the 2088.00 bias-up signal 30 minutes later at 10:15. Exiting the open back under 2086.50 would be much less likely to trigger bias-up.