The First Trade & Pre-open Tour Recording… Highest hopes.
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…
Friday morning’s bias signal persisted through the noon hour, as it often does on Fridays. The week’s third gap-and-run participated as the open’s 16-point gap up extended another 16 points higher into the afternoon bias timing window. The bias environment ranged flat-to-lower into the final hour, which retraced half of the intraday gain. But only temporarily, bouncing into the close. All intraday upside objectives were fulfilled, and the afternoon bias environment was exited weakly, but sellers failed to exploit the vulnerabilities.
Overnight action’s new info…
Sunday night’s Globex open gapped down and extended to attack Friday’s late pullback low down to 2729.00. The dip was soon recovered back into positive territory above 2735.00 and through Friday’s 2737.00 high to attack 2740.00. Consolidating back down to Friday’s highs into AND out of Europe’s opens seemed apprehensive, but eventually surged to 2746.75.
If, then…
As we discussed during the weekend’s Saturday Review, fresh highs were likely if not immediately rejecting Friday’s gains. Fresh highs would target 2743.00 or 2747.00, and would be vulnerable to reversing down. Coming to within 1 tick of the upper-target fulfills it, but its rejection must exit the open at least back under 2743.00, if not also back under Friday’s highs or close. Friday afternoon’s break lower had potential for extending to 2723.50-2724.25, which would be the likely objective if last night’s rally is rejected. Renewing the morning’s bias-up or simply holding it could evolve into another gap-and-run session, essentially triggering the bullish scenario described Saturday.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2743.00 would be likely to trigger the 2741.00 bias-up signal at 10:15. Exiting the open above 2737.50 would be likely at least to trigger the 2735.50 bias-up signal.