The First Trade… Careful what you ask for.

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…
Thursday”s gap up to 2109.00 reacted down immediately as the cash session crowd”s pessimism was allowed to interfere. But the morning”s 2105.00 bias-up target held as support, renewing the bias-up signal, and quickly producing fresh highs. The rally extended higher through the afternoon to fulfill its 2117.75 bias-up target, 2 points short of touching the 2119.75 prior high, and 3 points short of my longstanding target for its retest. Extending the open”s gap up served by proxy to trigger a late bullish WedEX.

Overnight action”s new info…
The rally eventually resumed, surging to 2122.75 ahead of Europe”s opens. There has been no improvement since then, as price ranges choppily sideways above yesterday”s highs. The new high was produced by a single surge from under yesterday”s high, and it has yet to be probed, so it is NOT a “new Globex trend extreme” that would otherwise require being retested intraday.

If, then…
This being Expiration, there are a couple of extra features to the usual Friday Factors. The most important is that gapping open is vulnerable to being the session extreme. So, ticking down immediately at the open and trending down overall through it would warn that WedEX is inverting to bearish. WedEX triggered late, so it remains vulnerable. Avoiding those two conditions — tick/trend higher post-open — would diminish the WedEX inversion vulnerability. Whether inverting down or not, trending is likely today.

First Trade…
Exiting the open at 9:45 above 2123.50 would be likely also to trigger the 2120.75 bias-up signal at 10:15. Exiting the open under 2115.00 would be unlikely to trigger bias-up.