The First Trade & Pre-open Tour Recording… Creating a vacuum.
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…
Wednesday’s open eventually surged, and extended 14 points into the morning’s high. The balance of the session ranged choppily sideways. So, what else is new. It was the fourth consecutive morning trending and the fifth consecutive afternoon range. The afternoon’s momentary fresh highs was a difference, so perhaps the pattern will soon be replaced. Meanwhile, the session closed above 2909.00 to put into play higher objectives of 2925.50 and potentially also 2930.00.
Overnight action’s new info…
Yesterday afternoon’s attempt to turn down had instead become the usual afternoon range. Its potential to 2908.00-2909.00 is nevertheless being tested overnight, down to 2907.00. The move isn’t substantial compared to yesterday’s 2915.00 close, but the trip there has been relentless. That is, notwithstanding the reaction to a favorable trade war headline that just blipped-up to 2911.00.
If, then… (notes to accompany the Tour recording)
testing this morning’s bias-down signal only overnight wouldn’t have a specific upside reward. And repeating the test post-open could still trigger bias-down. Which is entirely possible, and possible to extend down to 2892.25, 2884.50 or even 2880.25, despite Wednesday having been the last day to reverse the trend down ahead of a 3-day holiday weekend. Yesterday’s surge created even more room to expend selling pressure without it yet reversing the trend down, and there was already room. Regardless of its direction, keep in mind that mornings have been trending. There’s no requirement to repeat that behavior, but be careful stepping in front of a trending attempt before it tests resistance above or support below.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 back above 2911.00 would be unlikely to trigger the 2909.00 bias-down signal at 10:15. Exiting the open under 2906.75 would be likely to trigger bias-down.