The First Trade & Pre-open Tour Recording… Stepped up.
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…
Fluctuating choppily 6-points either way around unchanged had attacked 2750.00 above, and tested 2739.00 below. Friday’s pre-open Employment Situation report was ultimately greeted by a 10-point dip to 2735.50. But it was only last-minute pessimism, which disappeared into a 28-point surge to 2864.00. That fulfilled the next higher objective at 2858.00, and 2870.00 was fulfilled when the rally resumed post-open and added 11 points through the morning. Another 11 points higher through the afternoon was resisted by 2786.00, before surging to 2892.00 into the close.
Overnight action’s new info…
Friday’s last-minute surge had been retraced 3-4 points into the weekend. Sunday night’s open abruptly reversed that by surging 10 points to 2798.50. The surge’s end became a relatively narrow flat-to-higher range supported by this morning’s 2793.50 bias-up signal. The range had broken higher to greet Europe’s opens at 2805.00, which abruptly collapsed 9 points back into a narrow range around 2798.50… Meanwhile, Bitcoin is trying to fulfill the bullish setup we discussed at Friday’s close. Consequently, it is defining a nearby sell signal that must be avoided in the near-term to avoid being cut in half.
If, then…
Last week’s bearish template rested Friday, which Friday’s surge exploited well. Overnight action resembles the behavior, but that doesn’t yet mean its next stage has arrived. Similarly, hovering above Friday’s highs doesn’t yet mean a decline won’t greet the open. But avoiding that late selling pressure — or limiting it — would help to confirm the next higher objectives are in-play at 2818.00 and 2830.00-2833.00.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2787.75 would be unlikely to trigger the 2793.50 bias-up signal at 10:15. Exiting the open above 2797.00 would be likely to trigger bias-up.