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…
Friday’s rally trended up into the afternoon’s bias environment to 2315.75. The balance of the afternoon back-and-filled down to 2312.00, hanging on to confirm Thursday’s breakout. The requirement to retest overbought RSIs at 2315.75 was left outstanding, along with the afternoon’s 2316.75 bias-up target.
Overnight action’s new info…
Sunday night’s open surged 3 points and attacked Friday’s 2315.75 high to within 1 tick. Its consolidation soon broke to new highs at 2318.00. Just enough complexity along the way created a “new Globex trend extreme” that requires eventual retest intraday. That didn’t prevent retracing the entire surge back down to its 2313.50 origin. Its reaction has been ranging narrowly, and is now firming up to 2317.00.
If, then…
Thursday’s breakout now eventually requires at least a third higher close. And being a new trend high close on a Friday also requires another eventual new trend high close. Neither of which prevents an immediate pullback. Nor does last night’s “new Globex trend extreme” — which is a landmark, not an attraction. Two actual attractions left outstanding Friday were neutralized overnight. Meanwhile, having printed a new trend high, exiting the open under the overnight low would start to suggest a temporary corrective retracement is underway to 2304.50, 2297.00, or deeper. Opening strength that retests Friday’s 2315.75 and 2316.75 ” unfinished business above” would still be vulnerable to reversing down. Extending higher, instead, would have potential to test 2327.00-2330.00.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2314.50 would be unlikely to trigger the 2317.00 bias-up signal at 10:15. Exiting the open above 2318.75 would be likely to trigger bias-up.