The First Trade… Jobs hunting.

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…
Dropping Wednesday night to test 2100.00 was recovered to attack 2108.00 before Thursday”s open. Dropping aggressively held the overnight low and recovered to attack 2112.00. That bounce also failed, but this time dropping through the noon hour to 2091.25. Anxiousness ahead of the noon hour ended the drop, but a bounce to 2097.00 held the 2091.25 low before the close. The cash session close barely recovered to hold last Tuesday”s 2096.00 low.

Overnight action”s new info…
Last-minute action had surged into the futures close to 2099.25. Narrow ranging held 2097.00 at Europe”s opens, which triggered a surge to attack 2103.00. Consolidating back down to 2097.00 has broken sharply, now bouncing from a touch of yesterday”s 2091.25 low.

If, then…
Trending yesterday was unlikely ahead of the Employment Situation report. Now trending isn”t so inhibited. And this being a Friday, the morning”s bias is likely to persist through the noon hour. So, before the bias is triggered, may be the last opportunity to avoid falling over a little ledge, let alone a last opportunity for new highs anytime soon. And before either opportunity, there is this morning”s Employment Situation report. Recovering through the open from a negative reaction could trend up sharply into the weekend. Otherwise, the next lower objective at 2078.75-2081.25 will be in-play.

First Trade…
No preliminary levels are suggested before Employment Situation reports.