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…
Tuesday morning’s strength was steady, but also restrained. The 2266.00 bias-up signal’s attack didn’t trigger it, and its probe didn’t extend until the bias environment began lapsing. Then a rally emerged that traversed the 3-week old range to probe its high up to 2280.50 into the 3:10-3:20 proxy window. Despite reacting down 6 points into the close, the rally gained traction. And despite reacting down into the close, unfinished business above was neutralized. No new higher objectives were created.

Overnight action’s new info…
A narrowing range had finally broken higher to greet Europe’s opens probing 2278.00, on the way up to new highs at 2282.25. Consolidating since then has been supported by yesterday’s 2280.25 high. Each reaction down is overlapping yesterday’s high without forming any interim complexity above. So, there is not yet any “new Globex trend extreme” that would otherwise require being retested intraday.

If, then…
Having gained traction for yesterday afternoon’s efforts, the rally is likely to trend higher this morning. Trending higher this morning is no likelier to be maintained, or to avoid reversing down intraday. But not yet reversing down before the afternoon bias environment would make reversing down much less likely. Meanwhile, having probed higher overnight, trending higher this morning can be avoided by opening back under the ~2275.00 overnight low. The drop could extend down another 7 or 10 points without even threatening to reverse the trend down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2281.00 would be likely to trigger the 2278.25 bias-up signal at 10:15. Exiting the open under 2275.50 would be unlikely to trigger bias-up.