The First Trade & Pre-open Tour Recording… You’ll never guess.
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…
Thursday night’s narrow ranging around the 2768.50 cash session close had finally broken out rally nearly 7 points, attacking 2777.00. It was retraced entirely before the open, touching the 2766.00 overnight low. But no lower, which the 3-day holiday weekend began squeezing to attack 2786.00 at the morning’s high. Ranging through the afternoon gradually extended to a new trend extreme close on a Friday at 2786.50, and futures continued firming up to 2790.00.
Overnight action’s new info…
Sunday night’s open spiked up another 5 points to 2795.00. It was never touched again while ranging narrowly down to 2791.00 into the holiday session’s early close. The narrow range initially persisted last night until midnight’s fresh highs which have extended to 2803.50. Now reacting down more than 4 points is only attacking this morning’s 2798.25 bias-up target as support. Regardless, this is a “new Globex trend extreme” that requires intraday retest.
If, then…
In addition to requiring an eventual intraday retest of last night’s high, Friday’s new trend extreme close requires at least another eventual higher trend extreme close. Gapping up above all prior highs would also require eventually retesting the opening print from below. These setups have no timing element, so an immediate reversal down would have no requirement to recover soon. Reversing down post-open would have early support at “lower prior highs” from Sunday night’s ranging, and then potentially back into Friday’s range. Already breaking under Monday night’s 2791.00 low through the open would not ensure holding a test of Friday’s lower prior highs.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 2801.25 would be likely also to exceed the 2798.25 bias-up target at 10:15 to renew the bias-up signal, next targeting 2804.50. Exiting the open above 2796.75 would be likely at least to trigger bias-up at 10:15.
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