The First Trade & Pre-open Tour Recording… Early to rise, more time to fall.
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…
The week began as optimistically as they can get. Gapping up to 2755.00, and trending almost straight up throughout the session to 2788.00-2389.00. The morning segment of the rally was steeper and more productive than the afternoon, but each was relentless with relatively shallow pullbacks. “Higher prior lows” at 2775.00 was the potential objective, and it was exceeded easily and by far. No “unfinished business” was left outstanding as the afternoon peaked upon fulfilling its bias-up target.
Overnight action’s new info…
Overnight action so far is exclusively above yesterday’s range. But its initial enthusiasm — follow-through from the intraday rally — has been retraced almost entirely. Surging 4-5 points from the close up to 2792.50 soon extended higher to 2799.00. That was the first hour of Globex. Sideways through midnight has since worked its way back down to yesterday’s close. To it, and now through it to 2785.50.
If, then… (notes to accompany the Tour recording)
PROGRAMMING SPECIAL ANNOUNCEMENT: I’m hosting a special introductory overview of the If Then method after Wednesday’s close at 4:30 ET. Onboarding for newer subscribers, refresher for seasoned subscribers, and a good opportunity to focus on strategy and tactics as market volatility begins heating up again… Yesterday afternoon’s traction signal was triggered when the bias environment’s bullish exit was confirmed by the proxy window. There was one caveat, that the bias environment had only ranged narrowly sideways, mitigating the effort that traction was rewarding. So, unless still holding up through Tuesday’s open, its reward of probing above Monday’s highs might have been fulfilled overnight. Opening under the earlier Globex low could form a bearish Globex-flip setup that points down through the morning. By the same token, forming a Globex-flip without actually triggering it would be as bullish as it would have been bearish.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2787.50 would be unlikely to trigger the 2791.50 bias-up signal at 10:15.