The First Trade & Pre-open Tour Recording… Keeping a tight lid on it.

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…
Thursday’s “session-long decline” triggered at the 2801.50 open. An 11-point drop was nonetheless recovered up to 2808.00 before the setup’s influence truly kicked in. Every timing window but the noon hour probed its prior timing window’s low on the way down to 2756.50 during the afternoon bias environment. But the final hour also avoided probing its prior timing window’s low, instead bouncing to test the bias environment’s high and to close at 2772.00. More oversold RSIs were left outstanding at the lows.

Overnight action’s new info…
Flat-to-higher ranging got up to 2785.50 before greeting Europe’s opens at 2780.00. And that was on the way back down to unchanged at yesterday’s 2772.00 close. Much of which has now been recovered to attack 2784.00.

If, then… (notes to accompany the Tour recording)
If the session intends to stage another downleg, then it’s keeping its plans very secret. The two prior sessions had ultimately signaled a Globex-flip and a session-long decline, but no post-open setup is currently indicated by the flat-to-higher overnight ranging. Gapping down under Thursday afternoon’s low is the usual resolution to having missed the final hour’s fresh low during a session-long decline setup, but that’s not currently indicated. Either the session actually will avoid another downleg, or else hope still springs eternal and sellers are refreshed for their deepest and most destructive downleg of the set. Any other day of the week would reveal its intent in this setup during the opening 15 minutes of volatility. This being a Friday, a failed morning bounce that doesn’t recover a prior high would still be vulnerable to an afternoon collapse, even without the added influence of a bearish WedEX.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2781.00 would be likely to trigger this morning’s 2779.25 bias-up signal at 10:15. Exiting the open under 2777.00 would be unlikely to trigger bias-up.