The First Trade & Pre-open Tour Recording… Another slight bounce.
Proper context can start the day with a solid win and make all the difference.
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…
Before seasonal holiday bullishness resumes its influence, sellers had a fading opportunity Wednesday to insert a downdraft. Perhaps even to fulfill “unfinished business below” at 2679.00 and 2675.50. Despite triggering the 2688.75 bias-up signal late, and creating “unfinished business above” at its 2693.75 target, a downdraft did begin mid-morning and fell to 2681.50. The position-squaring window popped back up to the afternoon bias environment’s 2685.25 high. Meanwhile, the afternoon’s bias-down signal had triggered, late, and left unfinished business below at its 2679.00 bias-down target.
Overnight action’s new info…
Surging out of Wednesday’s position-squaring window extended to 2686.25 into the futures close. Globex dipped to 2684.00 and then resumed the rally. It has been relentless, albeit shallow, up to 2688.50. That was yesterday’s sell signal that had triggered going into the noon hour, and 1 tick above this morning’s bias-up signal.
If, then…
Yesterday’s position-squaring window bounce originated too late to be strong-handed, and it was only noise since it peaked at the afternoon bias environment’s high. The overnight extension is only noise, so far, for having retraced the last downleg’s sell signal. Wednesday’s downdraft began in time to be credible ahead of the bullish influences, but it doesn’t have unlimited time to fully develop. If sellers can’t prevent the bias-up signal from triggering, then Wednesday’s 2675.50 unfinished business below could be delayed until next year. Bias-up would likely marginalize sellers for the morning, which would be long enough for seasonal bullishness and quarterly portfolio window dressing influences to take over through tomorrow’s early close. The key to one more downdraft is to start it early, which I’ll give every benefit of the doubt if bias-up doesn’t trigger. Just by not gapping up above Wednesday’s highs, fresh lows remain in-play.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2690.50 would be likely to trigger the 2688.25 bias-up signal at 10:15. Exiting the open under 2686.00 would be unlikely to trigger bias-up.
Phonetic dictation…
good morning and welcome it is Thursday time for Thursday morning Market to our don’t forget it’s a early closed tomorrow so we’ll be doing an early market wrap and it’s a holiday weekend so there’s no Saturday review so it’ll be an extended market wrap or where we’ll look at the bigger picture and I’ll be going into more detail in the Bitcoin anticipation we’ll see what happens I’ll mention somethinglittle bit of a rally overnight not much just relentless the open initially dipped the open initially dipped after yesterday’s very late rally the position scoring window started very late not a positive two virgins down here RS I never got over sold on that last low all noise made it only back to the buy some Byron High at least during the Futures extended a little higher before it became relevant even or inflection point wasn’t touched until well into the evening extensionhey I are actually another couple of ticks higher would not only recover that sell signal but also threatened to trigger the bicep signal this morning’s bicep 2688 75 so long as bias up doesn’t trigger and especially if bias up is rejected by testing it and not triggering it putting into play in offsetting test of the bias down signal 8150 yesterday’s low as it happens and then probably lower 279 we’re going to leave in place that likely scenario returning to fulfilling and into a seasonally bullish environment the rest of the day which then probably March through the week which margarinegreat significance overnight but yesterday’s flat the lower arranging did not confirm Tuesday’s almost literal explosion higher above resistance and it is being greeted from a position of strength breakout or break higher but still not from a position of weakness andSouth Korea has stirred the pot overnight basically by indicating there going to be man man dating a non Anonymous trading basically in cryptocurrencies wherever the new year is greeted in each timezone that’s going to be each time zone that has a structure which allows delaying the recognition of a game until that year the premise still being that there is a big reaction down coming as soon as sellers can get in there I would prefer to see that come from at the time could make that even more substantial remember
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