The First Trade & Pre-open Tour Recording… Noisy night, but not trending.

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…
Friday’s last 45 minutes ultimately bounced. And not a little, rallying 13 points in 3 distinct legs. But the late surge to 2673.00 originated from fresh session lows at 2660.00. The session until then was an ongoing series of lower lows and lower highs, beginning from unchanged at 2693.00. And its intraday downtrend persisted through the afternoon bias environment to fulfill day-one of a bearish WedEX setup.

Overnight action’s new info…
Sunday night’s gap up to 2683.00-2685.00 immediately extended Friday’s late bounce. And then it immediately ended. Consolidating back down to 2673.00-2674.00 repeatedly had stopped short of filling the gap back to Friday’s 2671.50 close. Finally probing lower through Europe’s opens only got to 2666.50, which is already reacting back up to unchanged around 2673.00.

If, then…
Having been influential Friday afternoon, WedEX should be very influential Monday morning. That doesn’t preclude gapping up or down, however sharply, before the post-open influence takes over. Neither does it prevent opening flat. Meanwhile, optimism at Friday’s low — stopping short of an outstanding gap around 2658.00 — is persisting overnight. Opening above 2685.00 would have suggested that something has changed dramatically, and that’s not currently indicated. But pre-open or post-open action selling should soon become aggressive if the ongoing optimism is bearish from a contrarian perspective.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2677.50 would be likely to trigger the 2675.50 bias-up signal at 10:15. Exiting the open under 2662.75 would be likely to trigger the 2665.50 bias-down signal.