The First Trade & Pre-open Tour Recording… High-wire act continues.
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…
Wednesday’s session resembled death-defying acrobatic stunts on a high-wire, high above the ground. Already rallying 30-33 points overnight, the 2712.00 gap up established a position of strength during the opening 15 minutes. Despite the rally soon extending to test 2729.00, it was retraced entirely to attack 2708.00 into the noon hour. Like the high-wire acrobat’s forward flip. Then came another, jumping even higher to 2737.00. Not yet extending higher through the bias environment exit or final hour entry made a pullback increasingly likely. But what was likely to be only short and/or shallow became a very satisfying drop under its 2729.00 sell signal to test 2710.00 at the cash session close, and 2706.00 at the futures close.
Overnight action’s new info…
Globex began rallying immediately, testing and retesting what is this morning’s 2721.00 bias-up signal up to 2722.25 before midnight. Retracing it into and out of Europe’s opens tested and retested 2708.00, essentially back down to unchanged. Another bounce soon began, and it is now probing a fresh highs now testing 2727.00.
If, then… (notes to accompany the Tour recording)
Is the high-wire act back? No “unfinished business” was left outstanding Wednesday, although its 2729.00-2739.00 highs are likely to be probed up to 2741.00. Gapping down under Wednesday’s lows to isolate its session would signal otherwise, and it’s not yet too late to begin that effort, but it’s getting there. Until very recently, the overnight bouncing has still been only a range. Meanwhile, extending higher to test yesterday’s highs at the open would have only a narrow window either to exceed them, or else to hold their test and reverse down again.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2722.50 would be likely to trigger the 2717.75 bias-up signal at 10:15. Exiting the open under 2715.00 would be unlikely to trigger bias-up.