The First Trade & Pre-open Tour Recording… Slow-playing the recovery?

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…
Sunday night’s slide probed under Friday’s lows to fulfill downside attractions at 2372.25 and 2368.50. The probe also began tracking a bottoming template that had begun with Friday’s failure to recover from fresh multi-session lows. The template continued tracking with Monday afternoon’s recovery to fresh session highs at 2378.00, closing above the morning’s high. And the recovery gained traction through the bias environment exit and the proxy window trending. Monday’s close was still negative, which isn’t necessarily bearish, but a recovery isn’t yet reliable..

Overnight action’s new info…
Dipping 3 points into Monday’s 2375.00 cash session close extended down to
2370.50 at the Globex open. Bouncing 5 points to test 2375.00 as resistance has reacted down to within 1 tick of the Globex open’s 2370.50 low.

If, then…
Resuming the rally doesn’t require gapping up this morning since yesterday’s rally gained traction for its efforts. Gapping down would still be likely to recover. Trending down through the open — or triggering bias-down — would make a recovery difficult. A recovery’s first objective is to test 2381.50, and extending higher would eventually target 2404.50 and 2418.00. Resuming the decline would instead target 2364.00-2365.00 below.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2368.50 would be likely to trigger the 2369.75 bias-down signal at 10:15. Exiting the open above 2372.00 would be unlikely to trigger bias-down.