The First Trade & Pre-open Tour Recording… Flat choppiness.

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…
Thursday night’s shallow rally was nevertheless relentless, and also productive for having probed Thursday’s 2846.50 high. The proximity to “unfinished business above” at 2848.75 proved irrelevant when the 2842.00 open slid to 2830.00 through the morning. More so as the slide accelerated to test 2809.00 through the noon hour. The balance of the afternoon ranged choppily flat-to-higher up to 2821.00, forming an Ascending Triangle. Testing the 2818.00 “lower prior high” held through the close, while neutralizing unfinished business below at 2813.75.

Overnight action’s new info…
Sunday night’s open bobbled momentarily, then soon spiked down and eventually extended to 2806.50 before midnight. Firming into and out of Europe’s opens has only continued firming, now attacking Friday’s 2817.50 futures close to within 3 ticks. Friday’s cash session close equated to 2820.00.

If, then…
Both bias-down parameters have been probed overnight. Often, the bias-up signal is also tested. Whether or not bias-up then triggers is determined from post-open price action. That’s if bias-up is also tested, which it often is — but not always. Greeting the open in negative territory under 2817.50-2820.00 would more likely retest overnight lows. And extending Friday morning’s decline would next target 2801.50.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2813.00 would be likely to trigger the 2815.00 bias-down signal at 10:15. Exiting the open above 2821.50 would be unlikely to trigger bias-down.