The First Trade & Pre-open Tour Recording… Constricted.

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’s gap up to 2377.00 extended quickly to 2387.00 through the bias timing window. The bias environment and noon hour ranged sideways, but the afternoon bias environment exit was probing fresh highs. Like Monday afternoon, no traction was confirmed. And like Monday afternoon, the balance of the session trended back down.

Overnight action’s new info…
The Globex open quickly touched yesterday’s 2382.25 low and began bouncing 4 points. Retracing to within 1 tick of the low also reacted up 4 points. The range remains intact as the initial low is being attacked to within 1 point.

If, then…
Yesterday’s close above 2375.00 put into play new highs. Subject to confirmation by closing above 2375.00 today, too, preferably higher. Pullbacks meanwhile may test 2360.00-2361.00 as support without reversing the trend down, and being able to reinstate new highs. Probing under yesterday’s lows seems likely since yesterday’s buyers gained no traction and the rally hasn’t extended overnight. Delaying a rally effort much longer would be too late to be credible, and would be vulnerable to reversing down sharply.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2390.50 would be likely to trigger the 2388.00 bias-up signal at 10:15. Exiting the open under 2385.25 would be unlikely to trigger bias-up. Exiting the open above 2383.00 would be unlikely to trigger the 2381.25 bias-down signal.