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…
Wednesday’s late 2292.00 high finally touched the objective that had been put into play by holding a test of the morning’s 2283.50 bias-down signal. The intraday recovery fought through natural resistance at the gap back to Tuesday’s 2288.00 close. Its morning peak and noon hour consolidation had hovered pessimistically short of the overnight highs. And the afternoon had already neutralized the objective to within 3 ticks. The recovery didn’t gain traction and enough time remained to react down, but the balance of the session only ranged narrowly sideways.

Overnight action’s new info…
Having satisfied the 2292.00 upside objective, Globex initially retraced back down to 2287.25. A gradual recovery paced itself to greet Europe’s opens back at 2292.00. Its corrective dip and three-hour consolidation eventually resolved up by surging sharply to 2296.25.

If, then…
Like the two prior sessions, new highs still remained likely despite Wednesday also being entered pessimistically. And since the intraday recovery didn’t gain traction for its effort, gapping up is the only credible start to a morning rally. The two-week old 2299.50 “new Globex trend extreme” still requires a retest, which is likely also to visit 2311.00. New highs are vulnerable to reversing down abruptly and sharply, especially if produced abruptly and sharply, which gapping up suggests. All of which can still be avoided by retracing deeply enough pre-open to avoid gapping up.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2294.25 would be likely to trigger the 2292.75 bias-up signal at 10:15. Exiting the open above 2299.50 would be likely also to exceed the 2297.75 bias-up target at 10:15 to renew the bias-up signal. Exiting the open under 2291.25 would be unlikely to trigger bias-up.