The First Trade & Pre-open Tour Recording…

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post Sorry, technical error today…

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…
Overnight weakness had extended post-open to trigger Thursday’s 2389.25 bias-down signal. Failing to limit a temporary pullback to 2387.25 had put into play lower objectives. Opportunities to negate the extension failed, the last being a surge to 2388.00 that only stretched the rubber band for a 10-point drop to 2378.00 at the close.

Overnight action’s new info…
Thursday’s last drop to 2378.00 was initially consolidated into a Descending Triangle. Its eventual break fell relentlessly until touching 2373.75. Bouncing less than 3 points was retraced entirely, but the low’s retest reacted up to attack 2379.00.

If, then…
Overnight lows have at least touched the upper-end of the next lower objective in-play at 2372.25-2373.75. If a shallow pre-open bounce from its test proves premature, then resolving down could hold the objective’s lower-end. And extending deeper would next target “lower prior highs” at 2368.50 or 2364.00. A bigger pre-open bounce that greets the open in positive territory could isolate the probe to the overnight, and trend higher through the morning. 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 under 2376.00 would be likely to trigger the 2378.50 bias-down signal at 10:15. Exiting the open above 2383.25 would be unlikely to trigger bias-down.