The First Trade… So, now Grexit means nothing?

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…
The sentiment of several dips during holiday trading bled into Tuesday”s open, which gapped down from 2124.25 and trended down sharply through the morning to 2100.25. Bouncing into the morning bias environment”s exit resolved down to new lows at 2096.00 as the afternoon bias environment”s exit. The final hour”s bounce to 2101.50 extended to 2107.00 into the Globex close.

Overnight action”s new info…
Tuesday”s post-close surge was clearly weak-handed. Backing-and-filling through Europe”s opens didn”t find a bid until testing 2101.50, then surging to 2107.75. Not surprisingly, that bid came amid Grexit news. Surprisingly, this morning”s Grexit news is seemingly worse than what was scapegoated for yesterday”s opening slide.

If, then…
So, die by the Grexit, re-birth by the Grexit? As much as Greece exiting the Euro creeps inevitably closer, sell-offs on its fears have been temporary. The ugly Euro chart makes the news seem closer, but S&Ps will shrug it off again if a second consecutive lower close is avoided today. Regardless of this pre-open fiming amid worse Grexit news, S&Ps still must gap up and extend higher to avoid at least retesting yesterday”s low.

First Trade…
Exiting the open at 9:45 above 2108.00 would be likely also to trigger the 2106.75 bias-up signal at 10:15. Exiting the open under 2101.50 would be unlikely to trigger bias-up.