The First Trade & Pre-open Tour Recording… Upside intent.

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…
Gapping up Thursday was the only path higher after having failed to gain traction Wednesday. Gapping up above Wednesday afternoon’s 2655.00 bias environment high went further, forming a “session-long rally” setup. Surging through the first hour had already attacked the next higher objective at 2672.00. Two more tests of the objective held through the balance of the session, but their timing still fulfilled the setup’s requirement that all but one window probe its prior timing window’s high. A very last-minute collapse fell 8-9 points into the close.

Overnight action’s new info…
Thursday’s last-minute collapse lasted longer than that. The Globex open immediately spiked down and soon extended the drop to 10-12 points under Thursday’s late lows at 2652.00. Hovering just above this morning’s 2654.00 bias-down signal began firming by midnight, and had retraced the initial drop into Europe’s opens. The recovery extended into positive territory, already probing back above 2672.00 by 1 point.

If, then…
The morning following a session-long rally tends to extend higher. Quickly dropping 10-12 points after the Globex open made fresh highs difficult, due both to momentum and to math. Having already recovered the initial overnight drop, both momentum and math are back on the side of probing fresh highs. Gapping up or not could dictate the morning rally’s likely resolution — probing higher highs without gapping up would be doomed to failure. Gapping down is still possible, but would still be likely to rally through the morning. Sell signals will be considered anyway, especially if the bias-up signal holds its test instead of triggering.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2669.00 would be unlikely to trigger the 2672.00 bias-up signal at 10:15. Exiting the open above 2673.50 would be likely to trigger bias-up.