The First Trade & Pre-open Tour Recording… Deceptive noise, and a lot of it.

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…
Monday night’s bounce up to 2799.00 was retraced to greet Tuesday’s open back under Monday’s late 2794.50 high. The open’s collapse attacked 2783.00 and recovered just as quickly. All of which was still within Monday’s final hour range. A lot of opening volatility, but no fresh extreme, often dooms the session to ranging. Trending attempts failed throughout the day as the balance of the session ranged choppily, widening to 2788.00-2796.00 only briefly. A late blip-up to 2797.00 was rejected through the cash session close down to 2789.00.

Overnight action’s new info…
Tuesday’s late dip extended immediately by the Globex open gapping down to test 2784.50. Extending gradually lower touched 2781.50 before midnight. Finally, it was the Tuesday’s first probe under Monday’s final hour range. But only temporarily, as price recovered to 2789.00 through Europe’s opens, hovering there since.

If, then… (notes to accompany the Tour recording)
Yesterday’s last-minute slide and the overnight drop seem like trending, but that is deceptive, as price action remains within Monday’s final hour range. Unless Wednesday’s ADP and EIA produce evidence of intraday trending, continue exercising caution with exposure and sizing. The pattern still has no attractions or resolution requirements, whether in terms of price or time, all of which could change by either testing or breaking a bias signal.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2788.00 would be unlikely to trigger the 2785.00 bias-down signal at 10:15. Exiting the open under 2783.00 would be likely to trigger bias-down.