The First Trade… Is this just a drill?

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 early dip under prior lows down to 2091.25 wasn”t probed until the noon hour. The delay was made up by probing much deeper to 2086.25, fulfilling the afternoon bias-down target just as it was being triggered. The balance of the afternoon firmed back up to 2096.00, waiting too long to gain traction for the effort.

Overnight action”s new info…
Greece”s next phase began with its defiant announcement after Friday”s close, and continued through the weekend as the target of equally defiant announcements. Sunday night”s open gapped down 32 points and spiked down another 10 to 2054.00. Trending higher overnight eventually touched 2079.00. The latest reaction down 10 points has bounced back up to 2073.00

If, then…
Price has trended up relentlessly since Sunday night”s open gapped down. Exactly this behavior would not be bullish if duplicated at Monday”s open. But gapping down no lower than 2080.00 could still base before entering the noon hour in rally mode. Gapping down without recovering 2080.00 would be due to another round of selling pressure intending to influence the post-open environment, if not also resuming the decline.

First Trade…
Exiting the open at 9:45 above 2080.00 would be likely also to recover the 2082.25 bias-down target to avoid renewing the bias-down signal. Exiting the open above only 2073.00 would be likely to retest the 2079.00 pre-open high (assuming that”s still the pre-open high) before resuming the decline. Exiting the open under 2073.00 would be much less likely to bounce before extending back down.