The First Trade & Pre-open Tour Recording… A slow, unsteady start.
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…
Friday’s overnight retest of 2825.00 had collapsed like the night before, but this time recovered in time for gapping up to 2819.00. The morning was restrained by Wednesday’s 2826.50 high, while ranging exclusively in positive territory. The restraints evaporated with the bias environment lapsing, allowing a 10-point surge into the noon hour that touched 2836.50. Bias-up triggered, but its 2838.25 target was left outstanding as the late-morning surge retraced throughout the afternoon. A last-minute surge from 2823.50 to the 2828.00 cash session close left a new trend high close that requires another eventual higher close.
Overnight action’s new info…
Sunday night’s open gapped back down from Friday’s post-close surge, back through Friday’s 2828.00 cash session close. The low soon held 2824.00, just above Friday afternoon’s late low, and began reversing up. Recovering back into positive territory rallied into and out of Europe’s opens, attacking 2834.00. All of which has been contained within Friday afternoon’s range, and now price has reversed back down to unchanged.
If, then… (notes to accompany the Tour recording)
Friday’s new trend high close offers context that ensures a recovery in case of reversing down Monday. And Monday is vulnerable to reversing down, which is suggested by still overlapping Wednesday’s 2826.50 prior highs 3 minutes before Friday’s close. Meanwhile, Friday afternoon’s pessimism confirms the bearish WedEX signal will influence Monday morning’s price action — regardless of whether the open gaps up or down. The entire opening 15 minutes could trend up, but not any higher, if the bearish WedEX influence remains intact.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2833.00 would be likely to trigger the 2830.25 bias-up signal at 10:15. Exiting the open under 2825.25 would b unlikely to trigger bias-up.