The First Trade & Pre-open Tour Recording… Back to square <-1>.

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 gap down to 2897.50 only attacked Thursday’s 2902.00 close, holding the 2898.25 bias-down signal. Its reaction quickly fulfilled the bias objective, an offsetting test of the 2907.50 bias-up signal. But just opening within the range of Thursday’s lows had made lower lows likely, probably down to unfinished business below at 2892.25. Which trending back down into the noon hour fulfilled. The afternoon ranged sideways at the lows again, keeping alive potential for extending down deeper to 2884.50 or 2880.25. Trade headlines inhibited any trending, until Canada’s trade negotiator held her press conference as the close rallied up to 2906.00. No traction was gained, and no new “unfinished business” was left outstanding.

Overnight action’s new info…
Closed US markets and no news from Asia on Sunday night (having no audience for its news) left Europe’s opens more influential. Until then, price had ranged flat-to-lower to 2903.00. But a surge at Europe’s opens tested 2910.00 and eventually extended up to 2912.50. All of which was retraced to attack 2910.00 into Monday’s Globex close. Monday night’s Globex open has been a round-trip — first, testing Friday’s low down to 2902.00 and bouncing again to test 2912.00, then returning back down to Friday’s lows. Typical 3-day holiday weekend stuff, until getting aggressive, now sliding sharply to 2892.00.

If, then… (notes to accompany the Tour recording)
REMINDER: I’m traveling this week, and will have a staggered intraday schedule after the Market Tour and opening hour… The week was likely to begin with a struggle between an attraction below, and unfinished business above at 2918.00. Two rally attempts Sunday and Monday nights stopped 6 points short of 2918.00, which suggests two things — that potential for a deeper pullback remains alive, and that eventually resuming the rally should probe even higher. So, that deeper pullback is underway if Tuesday’s open doesn’t hold Friday and Monday night’s 2901.75-2902.75 lows. That’s compared to Friday’s 2901.00 cash session closing equivalent. Similarly, almost anything holding above Friday’s 2906.00 futures close should be bullish.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2903.00 would be unlikely to trigger the 2904.50 bias-up signal at 10:15. Exiting the open above 2897.50 would be unlikely to trigger the 2895.50 bias-down signal.