The First Trade & Pre-open Tour Recording… Getting on with it.

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…
Wednesday morning’s rejection of Tuesday night’s rally quickly fell more than 10 points from 2429.75. The 10:15 bias timing window exit was probing Monday’s 2420.50 close down to 2419.25. The plunge was recovered almost entirely almost as quickly, attacking 2429.75 at the 11:30 bias environment exit. The balance of the session ranged choppily flat-to-higher at 2426.50-2432.25, settling back under the morning’s 2429.75 highs.

Overnight action’s new info…
A blip-up to 2430.50 was soon reversed to probe under Wednesday afternoon’s 2426.50 lows. Price action consolidated there until Europe’s opens triggered another dip, which extended down sharply to fresh lows for the week at 2416.00 before bouncing. That’s a 61.8% retracement of the bounce from Thursday’s 2402.25 low.

If, then…
Wednesday morning’s plunge had stopped optimistically short of touching Monday morning’s 2418.50 lows. Its support was already chipped away, so the last-minute deflection is bearish from a contrarian perspective. Support there wasn’t even obligatory — in fact, this overnight drop sliced through it. Gapping down under prior lows would be vulnerable to extending lower immediately. Any delay would be in order to correct back up to what is now “higher prior lows” at 2420.00. Extending down would next target 2399.00 if not also 2393.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 back above 2421.50 would be less likely to break back under the 2419.00 bias-down target through 10:15, which would otherwise renew the bias-down signal.

Phonetic dictation…
[Unavailable today due to a technical matter.]