The First Trade… At least there’s a parade.

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

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
.Friday’s session ranged sideways widely, probing fresh highs above last month’s 2011.75 prior high and retesting 2000.00 as support. But the close was essentially flat-to-positive above 2006.00, and no traction was gained either way

Overnight action’s new info…
Gapping down slightly Sunday night then rallied gradually until touching Friday’s 2012.50 high coming out of Europe’s opens. A quick reaction down from there has been ranging more narrowly around unchanged at 2006.00-2007.00.

If, then…
Today is a Federal holiday that closes banks and bond markets. This reduces participation and liquidity, and therefore also volatility. Trending is difficult to get started, but also difficult to stop once begun. Probing last month’s prior highs more significantly remains likely up to 2019.50. But not with any particular timing, so today is vulnerable to anything.

First Trade…
Exiting the open at 9:45 under 1999.50 would be likely also to trigger the 2001.00 bias-down signal at 10:15. Exiting the open above 2005.50 would be unlikely to trigger bias-down. Exiting the open above 2012.50 would be likely to trigger the 2011.00 bias-up signal… Remember that holding the test of a bias signal through 10:15 would put into play an offsetting test of the opposite bias signal.