The First Trade & Pre-open Tour Recording… Head-fake?
Reminder: I’m away from the screens through the morning, but chaRTroom will be open.
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…
Sunday night’s gap down to attack 2400.00 had been recovered and reversed into positive territory to test 2434.00 by midnight. That ended at Europe’s opens and reversed in time to greet Monday’s open attacking 2390.00, then sliding to 2368.00. Bouncing back into Friday’s range up to 2412.50 was reversed through the balance of the session to fulfill the next major objective at 2355.00 down to 2351.00 at the cash session close. Futures slid to 2340.50.
The one-year anniversary of (reporting) a high-profile stock gift.
Overnight action’s new info…
The open blipped-up to 2351.00 and then plunged to test 2317.00. All within the first 10 minutes. Most of it had been retraced 10 minutes later. More so another 10 minutes after that, testing 2353.00. Another dip down to 2325.00 held through midnight, rallying since then to test this morning’s 2361.00 bias-up target. Now a spike up has touched 2369.00. The plunge was a singular leg, and its retracement never probed lower, so it is not a “new Globex trend extreme” that would otherwise require intraday retest.
If, then… (notes to accompany the Tour recording)
Reminder: I’m away from the screens through the morning, but chaRTroom will be open. Did Monday’s decline express so much negative sentiment, that last night’s plunge overdid it? These overnight lows don’t require a retest intraday. And having probed the prior intraday low overnight, opening above the 2353.50 earlier Globex high could form a bullish Globex-flip. Tuesday’s intervening holiday closure makes the setup less reliable, but it would be credible so long as Monday’s 2351.00 low remained untouched. Otherwise, already reversing down before or through the open would likely retest the overnight low — and lower, if its retest were to form another spike low.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2366.00 would be likely to trigger the 2361.00 bias-up signal at 10:15. Exiting the open under 2357.50 would be unlikely to trigger bias-up.