The First Trade & Pre-open Tour Recording… Lost week.

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…
The weekend’s impending illiquidity neither rejected Friday’s gap up to 2718.00, nor caused its rejection. Friday Factors didn’t seem influential at all through the first hour’s 2713.00-2723.00 range, or the morning bias environment’s rally attacking 2730.00 resistance. But Friday Factors were likely to be influential at least once, and their illiquidity was getting exponentially closer every minute while the afternoon bias environment coiled back up to resistance. The balance of the session broke higher almost 20 points to attack 2750.00, 5 points short of the prior Friday’s 2755.00 high. Closing above Thursday’s 2731.00 high alone was enough to confirm its Isolation setup’s reversal remained intact.

Overnight action’s new info…
Sunday night’s open spiked up to attack the prior Friday’s 2755.00 high within 1 point. Adding another 3 ticks reacted down 12 points to test 2743.00. Most of which was recovered by eking higher through midnight. Consolidating into Europe’s opens broke higher again, probing fresh recovery highs up to 2761.50.

If, then…
Completely retracing the prior week’s 2755.00 high was the reward for having contained its pullback to tests of 2701.50. The pullback included Wednesday night’s dip to 2782.00, which was isolated by Thursday’s open back above Wednesday’s lows. Even if the Isolation setup wasn’t confirmed until Friday, its likelihood for multiple sessions of follow-through still gets a benefit of the doubt. Regardless of any confidence in extending the bounce, be mindful that the 1987-style crash pattern’s analog is within days or hours of its final bounce’s peak. No analog is perfect in both its price and time measurements, as we discussed during this weekend’s Saturday Review. Only structure matters. So, the current bounce’s next higher objectives at 2813.00 and 2825.25-2827.75 are in-play on a close above 2857.00, and so long as upside momentum keeps in mind Satchel Paige’s most famous saying: “Don’t look back. Something might be gaining on you.”

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2753.25 would be unlikely to trigger the 2757.00 bias-up signal at 10:15.