The First Trade… Not a lot of fear.

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…
Gapping up to the 2074.00 area in reaction to favorable Greece news managed to hold up through the open. The balance of the session, not so much. The open”s session-long rally setup became inverted. The inversion was confirmed by falling to 2060.00 through the afternoon”s bias environment. But the last hour rallied anyway back up to 2070.00.

Overnight action”s new info…
Initially firming up to 2072.00 soon began reacting down to test 2068.00. Recovering back up to 2072.00 into Europe”s opens extended higher to 2076.25. Now a test of 2072.00 as support is reacting up, as the rally tries to extend.

If, then…
Sentiment isn”t extremely optimistic overnight, but it”s certainly not pessimistic. And yesterday”s final hour rally was pretty optimistic already. Even yesterday”s intraday slide developed entirely in positive territory. The three-day weekend”s fast-approaching illiquidity may be responsible for limiting counter-trend sponsorship sustaining. But look out below if this morning”s Employment Situation report disappoints. And look out below if a favorable reaction to the report were to hold a test of Monday morning”s high. The most bullish intraday setup may be for a steep reaction down were to greet the open at or above yesterday”s low, instead of gapping under it. With liquidity quickly evaporating into the afternoon, it will be difficult generating sponsorship to break free from the range if not already done through the open

First Trade…
Preliminary signals are not considered before Employment Situation reports.