The First Trade & Pre-open Tour Recording… Already in a make or break.

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’s intraday sell-off down to 2763.75 had not gained traction for its effort. That didn’t prevent probing lower overnight down to 2755.75. But the lack of intraday traction may have prevented the overnight sell-off from extending. Or from even being maintained. The fresh lows were already recovered before Friday’s open to form a bullish Isolation setup. The morning’s choppy start was entirely appropriate for the setup, as was the afternoon’s relentless trending. The setup’s likely objective to retest Thursday’s 2783.25 high was touched at the close. Both bias setups were also fulfilled, and no “unfinished business” was left outstanding.

Overnight action’s new info…
Sunday night’s open gapped down to immediately test relevant support from Friday at 2775.00. That was the extent of selling pressure, other than a quick retest of the open’s 2774.00 low. But Friday’s 2782.50 close was soon attacked to within 1 point. A 4-point pullback was already recovering into Europe’s opens, and extended to touch what is this morning’s 2786.50 bias-up signal. Now Friday’s 2782.50 close is being tested as support.

If, then…
Perhaps the most relevant influence to monitor at the moment is last week’s pattern of rejecting early probes above prior highs. There were four, and there were different versions among them. Some of the reversals developed earlier than others, but last night’s would be the earliest if it qualifies through the open. That can cut either way, so not rejecting the fresh high would be bullish for extending higher this morning. Not rejecting the fresh high needs some work, since the fresh highs is currently struggling to hold above Friday’s high. It’s premature at this moment to call it either way — check the Market Tour recording for tactical discussion — but it’s not too late for reversing down to threaten the earlier 2774.00 Globex low. Exiting the open below it, like Friday’s fulfilled Isolation setup, would signal weakness through this morning or through tomorrow morning.

First Trade…
[Click here to view the Bias parameters] Exiting the open under 2784.00 would be unlikely to trigger the 2786.50 bias-up signal at 10:15. Exiting the open at 9:45 above 2778.50 would be unlikely to trigger the 2777.50 bias-down signal. Exiting the open under 2774.00 would be likely to trigger bias-down.