The First Trade & Pre-open Tour Recording… Digging deeper.
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…
Tuesday night’s brief probe under its intraday low down to 2781.50 had been recovered pre-open to test Tuesday’s 2789.00-2792.00 close. But already slipping back into negative territory through Wednesday’s open extended down through the morning and noon hour. The afternoon bias environment was greeted sharply lower at 2769.50. Its 9-point bounce gained no traction (remaining within the noon hour’s range and entering the final hour within the bias environment’s range). That resolved down to probe fresh lows down to 2768.50. Its reaction up was shallower, barely attacking 2777.00 instead of recovering it before settling back at session lows.
Overnight action’s new info…
The intraday decline resumed without hesitation and quickly met 2765.50. A bounce resolved down into Europe’s opens at 2761.50, the lowest levels in three weeks. “Lower prior highs” were barely touched, launching a bounce that is now testing 2766.50.
If, then… (notes to accompany the Tour recording)
There was no bullish reason to revisit 2777.00 again. Closing under it yesterday confirms the next lower objective in-play at 2753.50. Not necessarily in a straight line, which we’ll learn more about if the overnight test of three-week old lows either holds itself, or repeats their test intraday. Isolating the overnight probe of fresh lows could be bullish, but very suspicious without greeting the open above 2777.00. At least. Meanwhile, any isolation attempt would be vulnerable to reversing back down and extending.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2766.75 would be likely to trigger the 2769.00 bias-down signal at 10:15. Exiting the open under 2761.75 would be likely also to exceed the 2763.75 bias-down target at 10:15 and renew the bias-down signal, essentially next targeting 2753.50.