The First Trade & Pre-open Tour Recording…

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

NEW 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…
Rallying Monday night had tested Friday’s 2294.00 prior high. Tuesday’s gap up tested Friday’s high as the opening 15 minutes of volatility ended. It was probed only high enough to neutralize Monday’s unfinished business above at 2295.25. The balance of the session retraced the overnight rally, filling the gap from Monday’s close down to 2285.25. The morning’s bias-up signal was invalidated, and no “unfinished business” was left outstanding above or below.

Overnight action’s new info…
Tuesday’s late bounce up to 2290.00 was being retraced already into the close. The retracement immediately extended to probe 1 point under Tuesday’s low to 2284.25. That was the end of that. Rallying from there greeted Europe’s opens at 2291.25. A reaction down to 2286.50 has recovered back up to 2291.25.

If, then…
Isolating a probe under Monday and Tuesday’s lows to the overnight would have been bullish for today. Especially if that probe had tested or at least attacked 2280.75. But the only probe under yesterday’s low was a single point, and it was part of a leg underway already into the close. And now there’s too little time to isolate a probe before the open. The 2294.000 prior highs are still near enough to be recovered quickly through the open. But dipping back under ~2286.00 through the open would turn this morning into a deeper pullback — still likely only temporary, but a detour.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2294.00 would be likely to trigger the 2292.00 bias-up signal at 10:15. Exiting the open under 2288.00 would be unlikely to trigger bias-up. Exiting the open above 2286.50 would be unlikely to trigger the 2283.50 bias-down signal.