The First Trade & Pre-open Tour Recording… Stepping out, and up (watch your step).
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…
Monday night’s pullback had held repeated tests of Tuesday morning’s 2637.50 bias-down target. The tests all held, as did its retest at Tuesday’s open. The morning’s 2645.50 bias-down signal held repeated tests as resistance, too — including at 10:15 and 10:30 to trigger noN-bias and warn of a choppy environment. It persisted through the noon hour’s exit which surged 9-11 points to 2666.50. Another choppy environment persisted through the close, barely measuring 10 points at its widest. The likelihood for rewarding the morning’s accumulation with a probe above Monday’s high to 2673.75 was never fulfilled.
Overnight action’s new info…
Tuesday afternoon’s choppy range persisted through midnight, at about half the width. Already firming back up to Tuesday’s highs suddenly surged into Europe’s opens, which was greeted at 2677.50. Its reaction down to 2670.00 has since developed a range narrowing around 2673.75.
If, then…
Having tested 2673.75 overnight, only sponsorship’s momentum and restrained optimism inhibit reversing down. Momentum is defined by the rally’s higher highs and higher lows, which remain intact. Restrained optimism is limiting the follow-through of surges. A post-open surge would maintain the series of higher highs and higher lows if it can limit both its follow-through and its reaction down. But not even surging post-open would be vulnerable to losing intraday momentum that attracts pessimistic selling. This ongoing rally from Friday afternoon’s lows still qualifies as being only a temporary correction, so it can’t afford deep pullbacks, or much delay between surges. Greeting Wednesday with multi-session trending makes today’s close likely to trigger a WedEX signal.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2670.50 would be likely at least to trigger the 2666.50 bias-up signal at 10:15. Exiting the open above 2676.00 would be likely also to exceed the 2673.25 bias-up target at 10:15 to renew its bias-up signal.