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…
Gapping up Thursday above prior highs to 2294.00 was maintained, and extended through the morning’s bias environment up to 2306.00. Consolidating back down to 2302.25 was retraced in time to surge out of the afternoon’s bias environment. But only to attack 2308.00 before hesitating, and then reversing back down to 2303.00 — still qualifying easily as a breakout.

Overnight action’s new info…
Thursday’s highs were soon recovered, and then probed up to 2309.50. The portion of price action above yesterday’s 2308.00 high lacked the complexity that would otherwise form a “new Globex trend extreme.” So, there is no requirement to retest the overnight high. But it’s still currently in proximity, as it reacted down only 2304.75.

If, then…
No traction was gained by yesterday’s rally, so probing above it is potentially only noise. Extending the rally durably this morning would require gapping up above yesterday’s 2308.00 high. Not gapping up could still extend higher this morning — probably testing 2311.00 — while remaining vulnerable to trending back down through the afternoon. Regardless of the open’s setup, extending higher would next target 2327.00. This being a Friday, the morning’s bias tends to persist through the noon hour.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2308.00 would be likely to trigger the 2307.00 bias-up signal at 10:15. Exiting the open under 2302.75 would be unlikely to trigger bias-up.