The First Trade… China, Greece, Bloomberg and S&Ps — they’re baaack.

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…
Responding to China”s drop, Greece”s ongoing Grexit and Bloomberg”s outage — and attracted to a retest of Thursday”s 2089.00 pre-open low — S&Ps plunged 15 points in Friday”s early morning hours. The open was greeted by a failed bounce that extended the drop another 18 points through the afternoon bias environment, totaling 34 points from Thursday”s close. The last timing window rallied 12 points to retrace almost all of the afternoon”s portion of the drop.

Overnight action”s new info…
China rallied sharply in reaction to easing bank reserve requirements. Greece may be getting $5 billion from Russia. And, Bloomberg hasn”t gone dark again. Sunday night”s open gapped up 5 points, and eventually added another 8 points to pierce 2089.00 by 3 ticks. That”s a Fibonacci 61.8% retracement back to Thursday”s high. And it is now reacting down to test 2083.00.

If, then…
Was Friday afternoon”s recovery enabled by the bullish WedEX expiration indicator? Then its influence on Monday morning should be aggressively bullish. Gapping up is irrelevant to the indicator — trending up through the opening 15 minutes of volatility would be highly reliable for trending up through the morning. By the same token, trending down through the open would invalidate the signal, if not invert it, in either case being attracted down to fill the gap back to Friday”s close.

First Trade…
Exiting the open at 9:45 above 2086.00 would be likely also to exceed the 2084.50 bias-up target through 10:15 to renew the bias-up signal. Exiting the open under 2082.00 would be less likely to exceed the bias-up target in time to renew the signal.