The First Trade… High hopes ahead of the weekend.

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…
Having met and held its 2088.00 target during Thursday”s immediate drop, the balance of the morning ranged back up to its 2095.50 bias-down signal. This made me suspect that buying pressure was overwhelming lower attractions. In fact, the balance of the session rallied back to Wednesday”s 2104.25 FOMC-reaction high. But the rally didn”t gain traction for its effort.

Overnight action”s new info…
Very narrow flat-to-higher ranging from 2101.00 suddenly surged up to 2107.00 just after Europe”s opens. That was gradually retraced back into the earlier range, and then through it. Now a fresh low is attacking 2099.25.

If, then…
Having failed to gain traction for Thursday afternoon”s efforts, gapping up would enable the rally to resume uninterrupted and possibly also to extend considerably higher. Meanwhile, having trended up into Thursday”s close, gapping down under the afternoon”s 2098.50 low could form a “session-long decline” setup targeting at least a probe under Thursday”s lows.Regardless, this being a Friday, the morning”s bias tends to persist through the noon hour.

First Trade…
Exiting the open at 9:45 under 2096.00 would be likely also to trigger the 2098.00 bias-down signal at 10:15. Exiting the open above 2108.00 would be likely also to trigger the 2105.50 bias-up signal at 10:15.