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…
Wednesday”s opening dip held a test of the 2065.50 bias-down signal, putting into play an offsetting test of the 2070.00 bias-up signal. The balance of the morning ranged flat-to-higher. The balance of the cash session trended slightly higher to fulfill the target. A late surge probed it by a couple of points. A post-close reaction down to 2069.00 surged even higher to 2073.00.

Overnight action”s new info…
Globex action quickly extended to 2075.25. That reacted down Wednesday night to 2068.25. Its recovery to 2074.25 was consolidated last night, until Europe”s opens. That triggered another reaction down even further to 2066.00.

If, then…
Crude Oil”s drop on the OPEC (lack of) agreement is only partially responsible for the overnight reaction down. Extending higher into and out of Wednesday”s close is a bigger cause. S&Ps are actually flat-to-higher compared to Wednesday”s cash session close. Unless the open is trending quickly, today”s abbreviated session could be choppy, but otherwise uneventful.

First Trade…
Exiting the open at 9:45 above 2072.75 would be likely at least to test the 2074.00 bias-up signal. There”s a gap there back to yesterday morning”s Globex close, so triggering bias-up at 10:15 won”t be any likelier without also having recovered 2075.00 through 9:45. Exiting the open under 2065.50 would be likely also to trigger the 2067.75 bias-down signal.