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 <<==
[IGNORE MY REQUEST TODAY TO TEST THE ADOBE RECORDING]
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Not already trending down at Monday’s open had signaled that the current range is bottoming. Rallying through the open to attack 2363.00 had marginalized strong-handed sellers. A pullback was expected, regardless of its catalyst, which happened to be a headline about Chinese troops amassing at N. Korea’s border. The drop to 2347.50 was recovered to within 3 points of the morning’s high. On a bullish note, that triggered bias-up to create new “unfinished business above” at 2362.75. Also, the close was in positive territory. But closing under the morning’s high doesn’t yet signal the pullback has ended.

Overnight action’s new info…
Price action has been contained within the range of yesterday afternoon’s recovery. Barely. Globex began by trending back down to touch yesterday’s 2347.50 low. The balance of the night firmed back up to yesterday’s 2352.50-2353.50 close, which is still being tested now.

If, then…
Probing Monday above Thu-Fri ~2361.00 highs has created a new threshold for the rally potential to remain alive. Tuesday’s open should so what Monday did not, by quickly recovering back above the probed highs. That’s not at all assured. Already rallying overnight was the likeliest path to fulfilling this bullish template. The open is still two hours away as of this writing, and price being unchanged is in proximity to start rallying. Unfinished business above at 2362.75 and 2364.50 would be the likely objectives, but opening lower could instead allow a new downleg to begin anyway.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2350.50 would be unlikely to trigger the 2349.00 bias-down signal at 10:15. Exiting the open under 2346.25 would be likely to trigger bias-down. Exiting the open above 2359.00 would be likely to trigger the 2357.00 bias-up signal.