The First Trade & Pre-open Tour Recording… About, face.

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
[NOTE: chaRTroom IS A NEW FORMAT, LOGIN EARLY PLEASE]

Through the prior close…
Wednesday’s relatively shallow gap down probed the 2350.00 bias-down signal by 1 point. The offsetting test of its 2358.00 bias-up signal was soon fulfilled. A pullback to 2352.00 was recovered to trigger the afternoon’s 2355.75 bias-up signal. Its 2362.00 bias-up target was left outstanding at the close, which had only attacked Tuesday’s 2360.50 high.

Overnight action’s new info…
The Globex open attacked Wednesday’s 2355.75 bias-up signal as support and firmed back up to 2358.00. Asia’s opens triggered a spike up that immediately fulfilled the intraday 2362.00 objective. Its gradual reaction down reached 2358.00 well before midnight. Europe’s opens triggered a break lower, which has extended into negative territory down to 2353.50.

If, then…
The overnight high touched this morning’s 2362.50 bias-up signal before reversing down. That’s not post-open, so it doesn’t require an offsetting test of the bias-down signal. But as noted during yesterday’s Market Wrap, neutralizing the 2362.00 attraction overnight would be free to trend down before the open. And the pattern through Wednesday’s close was likely to resolve by almost literally exploding up or imploding down — the overnight reaction suggests the latter. Somehow recovering pre-open could find an air pocket up to 2369.00. But continuing to resolve down would target unfinished business below at 2339.75-2342.25.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2354.50 would be unlikely to trigger the 2351.75 bias-down signal at 10:15. Exiting the open under 2349.75 would be likely to trigger bias-down.