The First Trade & Pre-open Tour Recording… Holding pattern.

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…
Gapping up 15 points 2835.00 near overnight highs Thursday extended higher into the noon hour to attack 2852.00. That expended 6-7 points more of energy than the likelier potential peak, so the subsequent reaction down encompassed the entire afternoon. The dip only reached 2838.50 in all of that time, in line wither being only a correction. A very last-minute surge through the close attacked 2846.00, where the morning’s rally had been likelier to begin correcting instead of adding the extra 6-7 points.

Overnight action’s new info…
No trending overnight, no fresh highs, and no significant gap open indicated. A bounce to 2849.00 was consolidated back down to 2843.00, even through Europe’s opens. More recently, a slide to fresh lows pierced yesterday’s late low by 3 ticks down to 2837.75. Its reaction is now testing the overnight range’s 2843.00 lower-end.

If, then…
Even without its last-minute surge, Thursday morning’s rally was only retraced and not reversed. But buyers didn’t gain traction for the morning’s effort. So, trending higher this morning would be likely by gapping up above yesterday’s afternoon’s 2849.50 high, which overnight action only attacked. Extending its reaction down under yesterday afternoon’s lows still has room down to 2835.50 before suggesting a deeper dip underway to 2826.00. Being a Friday — expiration, no less — the morning’s bias is likely to persist through the noon hour.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2844.50 would be unlikely to trigger the 2848.50 bias-up signal at 10:15. Exiting the open above 2838.00 would be unlikely to trigger the 2836.75 bias-down signal.