The First Trade & Pre-open Tour Recording… Hunkering down, a little.

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 illiquidity had certainly exacerbated Tuesday’s otherwise valid break under 2763.00. That same illiquidity probably contributed to Wednesday night’s unusual open that saw the first minute plunge 71 points. Its reaction never recovered, and Thursday morning extended down to 2614.00. That was at the morning’s bias environment exit, and the balance of the session trended back up to 2699.00. That took the day’s loss to single digits, but positive territory wasn’t recaptured, and no traction was gained for all that effort. A couple of important levels did hold their tests — room for noise down to 2656.00, and the 2626.00 Thanksgiving prior low. Oversold RSIs were left outstanding at the low.

Overnight action’s new info…
Globex has drifted lower since yesterday’s close, eventually greeting Europe’s opens at 2670.00 “lower prior highs” from earlier yesterday. Its reaction has peaked twice at 2685.00.

If, then… (notes to accompany the Tour recording)
Does the overnight dip’s pessimism supersede the optimism of yesterday’s late surge, ahead of this morning’s Employment Situation report? Actually, neither has gained traction that would offer any predictive value. The bigger question seems to be not how the market will react, but whether trending into the weekend is waiting for the reaction to pass. A knee-jerk reaction down to 2656.00 and/or 2626.00 that holds through the open or through the morning could resume yesterday afternoon’s recovery. Failing to hold their retest could similarly resume Thursday morning’s decline. Friday Factors could exacerbate either setup.

First Trade…
[Click here to view the Bias parameters] No preliminary levels are considered ahead of an Employment Situation report.