The First Trade & Pre-open Tour Recording… Ignoring the news.

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…
Volatile overnight ranging had ranged up to 2825.00, potentially headed to fresh highs. We’ll never know, because China trade news triggered a collapse through the open down to 2808.50. Bouncing through the morning up to 2821.00 was retraced back down to 2811.00, with the final hour’s recovery effort peaking at 2817.00. “Unfinished business” was left outstanding at the morning’s 2806.25 bias-down target.

Overnight action’s new info…
The late recovery effort to 2817.00 had retraced to 2811.00, where another recovery would be likely if a recovery were valid at all. Trending back up began without delay, reaching 2822.00 by midnight. A 5-point dip into Europe’s opens has been recovered to probe several ticks above the earlier high.

If, then… (notes to accompany the Tour recording)
It was Tuesday’s multiple failures to exceed the 2803.00 area that enabled the overnight dip’s recovery to trend higher Wednesday. Will Thursday’s upside inhibitions resolve similarly Friday? A pre-open rally to 2425.00 was reversed down sharply by China trade news. If that had intended to probe higher otherwise, then Friday should do so — and possibly also compensate for the delay, extending to the 2831.00 area. Otherwise, not triggering bias-up this morning could be the start of drifting lower into the weekend.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2820.75 would be likely to trigger the 2818.75 bias-up signal at 10:15. Exiting the open under 2815.50 would be unlikely to trigger bias-up.