The First Trade

Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday’s two recoveries from testing 2563.75 as support had recovered to 2578.00. A relatively small knee-jerk reaction to Friday’s pre-open Employment Situation report was quickly erased from 2581.25. Post-open action dipped to 2574.00, holding Thursday’s “lower prior highs” as support. Rallying out of the morning’s bias environment extended through the afternoon’s bias environment to retest Wednesday’s 2585.50 high. The afternoon’s 2586.00 bias-up target was fulfilled to within 3 ticks. A new trend high close was less than optimal as the balance of the session ranged flat-to-lower to 2582.50.

Overnight action’s new info…
Volatility didn’t take long to re-appear after the weekend. Saudi purge, Dudley retiring, Paradise Papers, Wilbur Ross – Russia allegations… to name but a few of the weekend’s headlines that Sunday night’s open both reflected and tried to absorb. The open’s nod to all of that was a blip-down to 2580.00 which quickly reacted up to 2584.50. But the weight was more unbearable than that little dip, especially after a headline from China, as a more substantial slide extended down to 2575.50 — which is essentially a 61.8% retracement into the congestion at Friday’s lows. Firming from there attacked 2582.00 into Europe’s opens, forming an Ascending Triangle that is now breaking higher to 2583.00.

If, then…
The overnight dip, having been contained within Friday’s range, is no less noise than was Friday’s rally up to its prior high. And just like Friday’s buyers not gaining new traction, neither has last night’s sellers. Friday’s rally was vulnerable to reversing down because its buying pressure was fulfilled at the afternoon’s bias-up target. Last night’s drop is reacting up from dipping into Friday morning’s range. But that stopped short of structural support like a prior low or lower prior high. Nevertheless, exiting the open in positive territory would be credible for extending higher anyway, at least temporarily probing Friday’s highs, perhaps up to the next higher objective at 2590.50. Otherwise, a retest of the overnight low would be likely, and and Friday’s low would be vulnerable to breaking lower, with room down to 2563.75 before suggesting the trend is reversing down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2583.50would be unlikely to trigger the 2585.50 bias-up signal at 10:15. Exiting the open above 2580.50 would be unlikely to trigger the 2578.00 bias-down signal. Exiting the open under 2576.25 would be likely to trigger bias-down.

Phonetic dictation…
alright it is Monday November 6th Timeflies this is the Monday Morning Market or it has been an interesting weekend with headlines which I pointed out at last night’s open there’s some geopolitical there’s some fomc physical Paradise papers I don’t know where that goes conspiratorial it’s just coming out of course tragedy in Texas coming at the market from all directions a lot of buying pressure being expended to ignore or absorb opening dip was limited to just a couple points of blip down really from Friday’s Cashing close Futures close was what 83 Cashing close not much different than that just bounced right back and then got a headline from China I was just warning ominously as they do but nothing really durable produce anything substantial or the reaction basically fall under the weight of all this and more 2576 E550 is it on the right back into the consolidation it Fridays open over there then that rally overnight Friday if not for me just really flat to hire a head of the employment situation report Delayed Reaction blip up itself so it’s kind of a 61.8% return it back into Friday’s range even stopped short of that if we generously get rid of ticks we kind of come up with that and then we don’t so little bit shallow on the pool bad but it’s over night so it can be dismissed so long as the intro by exiting the open and positive territory preferably isolating this overnight dip by developing exclusively in positive territory Post open right now at 8252 75 positive so that’s not at all after I definitely had sponsorship apparently stopped optimistically short of not completing itself but doing any real any real retracement it was otherwise just noise and by the way that’s after Friday’s rally member Friday’s rally had stopped right at pretty much Wednesday they started it hadn’t been done already accomplished nothing new to neutralize its attraction so sellers had created upside gravitational pull and so they need to get out of open and positive territory the openings in positive territory to get out of the attraction back down to the overnight low which is an attraction back down to Friday which really isn’t attraction to break under Fridaywe can look fordaddy 50 The Unfinished Business about being tested but failed to recover positive territory through the open there’s the attraction to the overnight low there’s Friday’s low 2574 area which basically is just no bullets reason to retest that unless something can be done through the open get the opening 15 minutes of volatility to test the overnight low and recover it hold it that could be that could establish a floor otherwise you got mad trying to be vague about how deep we could drift there’s room down to 6375 or to attack 6375 without yet reversing the trend down and as we discussed Saturday there’s no reason to touch right act 6375 unless that trend is reversing down so it gets pretty dangerous if the open or the morning hasn’t either or is trying to establish the bottom alright some value for a value range than 25 3850 2586 retest of Friday’s highs it starts running into trouble if it’s tested and also not exceeded again on Friday at relevant resistance failed to close above it leaving the vulnerability to the downside still closing within prior range is plural and there is a probe overnight of fresh Lowe’s trying to open try to isolate that to the overnight nothing changes then that’s the yen I can’t say it doesn’t make sense. To a bottom Breaking Bad on Friday overnight the opportunity to put in and then they still stuck in a Range doesn’t need to be that much more but there’s room up to 7250 73 without yet reversing momentum up and there it is being tested overnight similar set up except that haven’t come back within proximity to it 1650 objective and I haven’t stopped short of filling this new Gap back to 1670 that’s when the eye of the attempt to isolate the wrapping up above its prior High failed no bullet reason at that point to return to the Gap upgetting out of here testing 1650 is thatnegative influences that Olympic gold and prevent its recovery to valid question long Bond really did not take advantage on Friday it’s confirmed break out above 15220 because the confirmation session had fill the Gap without closing above it at 150 314 but it didn’t reject it just fluctuated around it maybe even chipped away at it the proof will be if the rally zooms and resume is above the highs of 15214 prior tests which bases basically 54041 5406 overnight there’s been some extension tu-154 05 right in there I’m going to raise the cell signal because that’s just not decisive enough to prevent the potential to prevent a reversal back down anyway even if only temporarily even if only two it’s not a cell signal yet the nearest so even though buyers are not bringing it at least not on a timely basis and they’re ending the days without having gained traction above resistance it’s being tested it’s still not enough of a pattern to reliably short a head of a pullback it’s just not there crude oil Saudi Arabia geopolitical risk premium ahead of a weekend or just the attraction to the weekend developments in Saudi Arabia the objectives of the inverted Head and Shoulders they got his back to the required 53 from late September from 5 weeks ago that was really it so fluctuating not necessarily doesn’t necessarily mean extending higher but just as testing 5415 Target last week created a very shallow pullback 5388 that is Friday’s close back above 297 there is no unfinished business testing 310 that must be exceeded that’s the 309-2312 area to prove that there is that the trend has reversed up now the Gap back to Friday I want a cell signal in the 309 312 areasubstantialrapper proving hire overnight isn’t necessarily fulfilling buying pressure so as cell signal is less reliable but what we can look at is since another Gap has been created back to Friday’s close its retest becomes likelier to also fill the prior Gap that’s about 293 294 so we’ve got a downside of jective of 293 294 that’s a lot of potential profit if we can have a good ratio to the risk premium it really comes down to this fully test this range test 3 12309 if 312 309 can be tested intraday closing back under 309 would be bearish a little closing that would be otherwise without that form then I wouldn’t be that confident that had been expended and contained all right questions and I’ll see you there before the open good luck today

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Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday’s flat open at 2576.00 bore no hint of the overnight collapse that had tested 2563.75. That was isolated to the overnight by holding above Wednesday’s lows through Thursday’s open. But the recovery was also isolated to the overnight since the open also failed to extend higher. Another collapse also tested 2563.75, and also recovered entirely. The noon hour and bias environment ranged narrowly until the final hour, which finally probed positive territory up to 2578.25.

Overnight action’s new info…
Other than to probe slightly higher highs, overnight action has been unremarkable. A narrow range has been centered around yesterday’s late break to fresh highs. Europe’s opens did trigger a relatively quick slide from 2579.25 to 2576.00. But it already has been retraced entirely, including piercing a fresh high by 1 tick.

If, then…
Thursday’s final hour probe into positive territory was still short of Wednesday afternoon’s prior highs — both too shallow and too late to be reliable as strong-handed sponsorship. Last-minute optimism that doesn’t gain traction ahead of Friday morning’s Employment Situation report can be bearish from a contrarian perspective. A knee-jerk reaction down is possible in even the most bullish scenario. But the vulnerability to trending down is mitigated somewhat having held two tests of the 2563.75 relevant low. Again, holding a test, or two tests, or a dozen tests would be more reliable if its close were back above a relevant level. Rallying would target a retest of 2585.50, if not also the next objective at 2590.50. Fresh lows could extend intraday down to 2253.00.

First Trade…
[Click here to view the Bias parameters] There is no preliminary indication ahead of Employment Situation reports.

Phonetic dictation…
Alright good morning welcome it’s Friday it’s time for Friday’s Morning Market or we have just as a reminder the top Saturday review tomorrow we’re going to talk about first and foremost of course whatever pattern is left left with us today which is going to be interesting because there’s a employment situation report coming and that’s had impact that had impact pretty big marker in the pattern 1 month ago when that happened not expecting anything any different response but as has been as was expected this week has been volatile and plenty of training opportunities not interrupted which we really don’t want to say but certainly more volatility then we had been seeing so last week as expected I do expect the volatility to persist again until next week if we’re going to talk about that this weekend as well remember we’ve got Thanksgiving coming up and back we have three Saturday reviews in a row tomorrow in the following two weeks and then next week no because of the holiday weekend Thanksgiving weekend so there’s going to be a downturn that tends to happen with some guys we head into the bullish seasonality of Thanksgiving any holiday weekend that tends to happen not at the last minute but with some time so the market can settle into what it’s going to be settled into something that reflects that pull back having been or that drawdown haven’t been a pullback temporary pull back something that settles into that being reversal lot of stuff to look at in making that decision will go over that tomorrow as for today for last night really nothing you can see this is the this was the cell signal that could have triggered yesterday I had earlier looking to get rid of that because it’s pretty much meaningless now but that’s just as a as an indication of how much room it wasn’t a lot but without that was even used very little upside since yesterday’s clothes greeted at the High retesting the overnight high and then a huge plunge of three and a half points not even three and a half points out of Europe’s opens that’s what covered all the way so not a lot of no different version of afternoon which recovered which had been recovered or what was a recovery I should say of the mornings collapse the mornings collapse having been a repeat actually totally separate but down to thewhich had already 637516375 generally that would mean that’s irrelevant level that support that’s tested that’s held that is recovered in tirely generally that would mean that the market is tried and failed to reverse down we’ll go over some of the recent some of the recent okay some of the recent looks at that setup testing support testing and over a couple of times and windows failing over a couple times and windows and wrapping up the next day generally that’s what that mean so not the problem though with this setup at this time is the end of the recoveries have not yet recovered an interim high and interim High being maybe the overnight hi well the other night I the interim overnight High yesterday’s was recovered but very late so not so late that it’s invalidates that sponsorship as being weak handed but certainly is suspicious or that the recovery just yesterday afternoon forget the overnight forget the interim High between the other night and morning plunges but the recovery stop short of Wednesday afternoon little of Wednesday’s new tower highs so little suspicious optimism that the other another version of different or no different really it’s the same thing just a different way this is optimism for the late timing of this is optimism overnight for it’s shallow hovering at the highest optimism ahead of an event like employment situation report can be so just keep that in mind really nothing to do here because we don’t just to point out that if the report comes in and reaction is favorable than the expectation is that we get back to two Wednesday’s highs which by the way there’s resistance at 8150 just get out of a d150 and we’ll look for 10:50 that’s what’s in play next 6375 already let alone alternatively 375 375 375 375 probably and we’re probably going to open it’s probably because it’s being broken and just two totally different set-up the way to break 6375 in this setup happens to be the gap down under it so it’s going to be difficult to express any pessimism here without it resulting in a gap down under yesterday’s low that’s not necessary it’s not necessarily the only pessimism that can be expressed if there’s any pessimism that’s expressed Post open then it had better be recovered absorb to something on the order of yesterday’s collapse pretty quickly because almost any time spent in negative territory and not 2571 just kind of a big pretty quickly projected reversed in the positive territory or it starts getting very heavy very quickly 45 minuteslittle bit bigger correction there but it’s irrelevant for just looking for that correction and at some point it had tried ending gets love it too much pessimism here on Tuesday and so the gap down and Wednesday which didn’t extend was suspicious itself nothing to add been hovering under its Buy Signal not quite rejecting it but haven’t touched it yesterday having develop now under what we can see is a parallel up turning support just as a guide that’s not a trend line support that has to be at here too but just as a guide to point out time’s ticking pretty much need to see a recovery on the n-3 today’s clothes into the weekend or else there is suddenly much greater likelihood of this basically being a continuation pattern this past week to couple weeks and extending down Looney toying with this by signal that really triggering it the pound which gave up this opportunity for just a bigger corrective bounce in a big way gave it up to back down to the Lowe’s I don’t think they were going to get out of this test and it’s more thorough test now of course of 131 130 90 that was tested already ate that the problem with this was it didn’t spend enough time to keep me waiting and we are willing to give it a benefit of the doubt on this break hire that never had a second consecutive are close to confirm but a little bit more time spent down here backing and filling and we can get a bottom of the pound silver 1711 around it still overlapping never really didn’t extend any higher yesterday and now still testing 1710 but the point is that possibly but now the burden of proof in a very quick fashion gold somewhat similar lace stuck in this area and not explaining it is that a little pessimism like silver ahead of employment situation report last minute pessimism potentially we’ll see but better be exploited today and maintain that signals here 15220 twice two consecutive closes says it if there’s a negative reaction to the employment from a position of strength looking for a bottom kind of like the poundcrude oiltell you yesterday’s open that cat back up USA’s open is never tested well through testing overnight it would be more than usual to retest it Post open as well that’s the anticipation any way that this all results and extending tire 255 70 and finally Natural Gas yes at the open basically filled but his dad by we don’t leave anything I’m in the session itself opens high was retested we don’t leave anything at standing here at the logo that has to be were tested just close web 297 we can give buyers every benefit of the doubt the shallow patient approach to it is helpful but this is been extended to climb so I definitely want to see that before calling there any questions of course I’ll be back in there long before the open with the employment situation report reaction mapping that out alright review tomorrow good luck today

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Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Wednesday’s gap up to 2581.50 was soon extended to a new high at 2585.50. Which was soon reversed back down to 2581.50, and lower. Trending back down touched 2571.50 as the afternoon bias environment began. Bouncing into and out of FOMC news only attacked the noon hour’s high up to 2578.50, but never recovered it to signal a bigger reversal underway. The balance of the session drifted back down toward its low.

Overnight action’s new info…
Wednesday’s 2571.50 low was touched soon after the Globex open. A brief, shallow bounce to 2574.00 was blind-sided by rumors of deficiencies among the tax reform proposals planned for release today. Its reaction plunged to 2565.50, and then another 2 points lower to pierce 2563.75. The balance of the night rallied back to attack 2574.00. Another tax reform rumor contradicting the original one triggered a blip-up to momentarily pierce 2574.00.

If, then…
Monday’s dip was the opportunity to reject Friday’s close above 2563.75, which had put into play the next higher objective at 2590.50. Last night’s retest of 2563.75 threatens the signal, which can be invalidated the same way it was triggered — by two consecutive closes below it. Meanwhile, its retest is just more constructive backing-and-filling during a window that can’t gain traction, originating from a position of strength for having unfinished business above. Otherwise, Exiting this morning’s open under yesterday’s 2571.50 lows would threaten to greet tomorrow’s Employment Situation report from a position of weakness.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2574.75 would be unlikely to trigger the 2570.50 bias-down signal at 10:15. Exiting the open under 2567.00 would be likely to trigger bias-down.

Phonetic dictation…
good morning and welcome it’s Thursday it’s time for Thursday’s Morning Market towards the second day of November it’s getting cold there is Big icicle here overnight you know yesterday started on a high note the high note that could have been delivered on Tuesday on Tuesday after second consecutive close above 2563 75 doesn’t look like 25 6375 is relevant on Monday the 2nd consecutive close above it but it is because it was Friday’s close above 6375 like the prior Friday that signaled 2590 50 is in play it was Monday’s close above 6375 unlike last Monday that confirmed by not rejecting it say that a break out it’s a different system buy confirming or confirming by not closing back under 6375 that the pattern is next being attracted to 2590 50 or now attracted to 25 1950 so that could have been delivered more meaningful e on Tuesday instead Tuesday just barely gapped up Hubbard range flat the hiring today the overnight at a greeted yesterday’s open was much more in line much more in line with what having held 2563 75 for a couple of days. So all systems go right in fact a little bit return back down and then extended down that Gap up the essays hi wants to be filled it’s not a requirement because it produced new highs because of produce new eyes on the way to a confirmed objective I confirmed that remains outstanding it does have a higher degree of likelihood of being retested being an attraction and by the way if tested that’s 2581 50 being an influence so it could cause some resistance but it does have some outstanding qualities to it and I don’t mean outstanding as far as impressive but they’re at standing and waiting to be neutralized 6375 goes down Wednesday or Tuesday we discussed throughout yesterday afternoon but never really got anything going as far as reversing up big impediment yesterday afternoon I wasn’t getting it done and that kept it too late to be actionable but that was the level anyway 7475 2427 475 and it was productive because of their ability but also because it was exploited by a headline for a headliner symbiotic relationshipsomething to doform something to do with one of the one of the proposals of tax reform that potential AV maybe it’s traveling but maybe the corporate tax lower corporate tax rate will be sunset it I don’t know I’ve heard nine years but the point is not favorable to this big event of the day the tax reform unveiling which had better be good presumably because last week’s rally was at least twice contributed to favorable developments and word coming out about the about the package a vote that was the market in other words has indicated that it is interested and willing to respond favorably to good news on the tax reform front and willing to respond poorly the bad news on it so it’s important that the probe under or down to 6375 here’s a retest 6375 it’s important that 6375 was were tested important that it held important that it was tested during the window that is very difficult to gain traction for its overnight it has to be maintained for the open if there’s a break on 6375 it’s important. That test out of the way when it was unlikely to gain traction for the effort to the overnight in other words if the open is back up don’t fall back and then resolve all of that can be pretty overnight what was the what’s this morning this morning by a 64 F 450 potentially being recovered not to say that that has direct requirement for this morning but it does reflect what kind of sewing pressure has been expended in potentially rejected if intraday action doesn’t take this chipping away at support take this overnight dip once again just as at with after Tuesday’s flat tire arranging let alone Monday’s lower session exclusively and negative territory that had an opportunity to break back under 6375 and make a difference did not last night’s pattern would be similar to one or both of Monday and Tuesday setup and rather than producing an overnight rally will it would be capable of producing Valley good morning rally when it can get in squeeze itself in there just ahead of tomorrow’s employment situation report and I’m not speaking to the likely reaction or not for tomorrow’s employment situation report will have to see a pattern plays out but 25 until proved otherwise at this moment seems on the verge of being rejected if yesterday’s today the saving grace to you pretty much exclusively in positive territory exclusively if it doesn’t that could get very quicklyrejected all togetherother markets I’ll see. Nothing that is at this moment actionable pound had opportunity and still has an opportunity to explain this close above 13250 because the downside of jective was fulfilled the criticism being that it was my criticism being that it was fulfilled and rejected without any accumulation taking place which undermines the rally potential and you can see it is having difficulty getting left out the inflection is there but the significance of that level is also there in that it’s pretty critical to extend higher and it’s not so it dip back down to 131 131 15 130 171 3115 get back down in here that could allow some accumulation that’s the pound the Looney has a bicycle above that’s being attacked Euro which I’m going brake on 1760 probably not fulfilled no matter how substantial the two-day break under it finally was probably not the end of the road for that decline should be some more some great or Consequences but meanwhile yesterday’s break lower after having fill the Gap back to to back to Thursdays close nothing unusual about reversing back down but gapping down and holding for the day probably going to need a bigger bounce before resuming the decline needing to hold this test this is just a guideline it’s not a requirement but just to get an indication of what kind of and now that it’s being tested it has to be rejected immediately to be relevant and that is a close above 8825 which wouldn’t be the first here let alone the first attempt but it would be that much more credible not really being attempted here gold right and sweet spot of resistance that if it can be recovered about 12:50 1270 750 really just that whole range of resistance get out above it and we can look at this as a completed bottom and we Odyssey at that point in accelerated pace back up to 1300 and higher meanwhile that is resistance nothing new happening over night silver outperforming quite a bit and leaving the 1650s outstanding which it’s remain outstanding the way up to and through its interim High yesterday did 1711 but was also overlapping it at the time so it’s somewhat suspicious second today would confirm a bottom is in a second preferably get out before closing today then it better be recovered as well or at least stay away from it keeps them in there from a boy’s perspective long be suspicious about this influential influential in resisting the rally the rally but it’s reaction down before recovering and and then closing basically in an attack back down on it that has held held optimistically short of actually touching itineffectual optimistic becausethat shallow depth relatively shallow depth to extend higher so not not convinced that this bouncing it is actually being recovered a second consecutive how to close today I will give it every benefit of the doubt that it is greeting tomorrow’s employment situation report from a position of strength but if it can’t close higher than 1:52 today closing I’m sorry 15220 closing back under 15220 today may as well close back under 152 because will expect a negative reaction to Friday’s report crude oil and two ways yesterday what is the gap up after having a tooth pulled yesterday warning shot that the next hour drive to 5570 is in play warning shot across the bow that we’re running out of buyers because it took it wasn’t able to sustain it did leave outstanding the Gap up that wants to be were tested now remember that kept alive the recovery because that was the minimum objective previously back up to 53 they just have this way of getting filled but once again had to hold 5388 s support 5388 has to hold in fact at this point we can introduce a cell signal essentially under 5388 5350 would take the next objective 5570 off the table 570 off the table but otherwise 5570 they have to at least fill the Gap open but that buyers failed to produce the required That Could Have Ended closing today would be bullish regardless of today’s price action overnight there’s a little bit of framing maybe I’ll see you there before they open nothing really 74 75 15 minutes otherwise we could be looking at the peak of the bounce this would be the peak of the overnight bounce otherwise 67 before confirming 7:50 if its recoverywould warn alright good luck today

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Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Tuesday could have exploited a bullish setup that had been created Monday. Monday’s selling pressure kept the session exclusively in negative territory, while holding above 2563.75 key support nevertheless confirmed the next higher objective at 2590.50 is in-play. But gapping up only found sellers again — although the overnight rally had created room to absorb the selling without damaging the rally’s chart. Dipping into Monday afternoon’s range down to 2569.00 remained in positive territory and never gained traction. Hovering at session highs through the afternoon bias environment would be likely to rally through the final hour. But fresh highs only touched 2575.50 before tragedy in New York triggered a reaction back down to 2571.00.

Overnight action’s new info…
A surge soon probed above Tuesday’s highs up to 2577.00. Narrow ranging there started ticking higher ahead of Europe’s opens, and then surged again to touch Friday’s 2580.75 high. Now a brief consolidation is resolving up to new at 2584.00.

If, then…
Last night’s rally suggests yesterday afternoon’s tragedy did derail its late rally setup. Is that necessarily bullish for this morning? Perhaps in compensating for its delay, the overnight rally has gotten ahead of itself. We know three things that make this morning vulnerable to dipping: First, greeting the open with one-way, relentless overnight trending is vulnerable to attracting counter-trend sponsorship. Second, this week already has two consecutive opening dips, which is a pattern. And third, last night’s consolidations were either shallow or brief, both characteristics of impatience. Also relevant is the timing of this afternoon’s FOMC announcement, which could inhibit much more buying before then. Also that gapping up helps to prevent a morning dip from not damaging the rally’s chart. And that reversing down from a gap up above all prior highs would require an eventual retest, which is a tactic rallies employ to conserve and refuel buying pressure. So, NOT trending back down through the open would be likely to extend this morning, but not necessarily, and at least establish an anchor that helps to recover.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2583.50 would be likely also to exceed the 2581.50 bias-up signal at 10:15 to renew the bias-up signal. Exiting the open above 2577.75 would be likely at least to trigger the 2576.00 bias-up signal.

Phonetic dictation…

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Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Monday’s second consecutive close above 2563.75 confirms the next higher objective at 2590.50 is in-play. This is despite the session having developed exclusively in negative territory. Its gap down to 2571.75 open had recovered to almost fill the gap back to Friday’s 2578.50 close, before collapsing to 2565.50. The afternoon firmed back up to 2571.75. No “unfinished business below” was left outstanding.

Overnight action’s new info…
Monday’s late test of its afternoon 2571.75 resistance had reacted down to the range’s 2567.00 lower-end. Globex hovered there initially and then firmed back into the afternoon’s range. Well after Europe’s opens a rally is probing above yesterday afternoon’s range up to 2573.25.

If, then…
Little if any buying pressure was expended toward Monday’s confirmation session. That limits the excuses for Tuesday to delay recovering Monday’s dip and attacking fresh highs. Recent firming suggests the bullish scenario is tracking back above 2571.00 for extending higher Tuesday. Dipping back into yesterday afternoon’s range would start to suggest the rally was isolated to the overnight. Retesting Monday’s 2565.50 low would likely break lower to test 2560.50.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2571.25 would be unlikely to trigger the 2574.25 bias-up signal at 10:15.

Phonetic dictation…

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