The First Trade & Pre-open Tour Recording… Light this candle.
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 pre-open to post-open surge was very deceptive to those that didn’t know better. Surging from a fresh overnight low at 2906.00 to attack Tuesday’s 2917.75 high might have suggested an opportunistic session ahead. But not with the day’s volume likely to be thin. Choppiness persisted during the morning, with a dip back down to 2910.00 recovering to momentarily pierce a new high at 2918.75. Still, no trending, as the entire afternoon ranged narrowly between 2912.50-2915.50. The dead afternoon undermines the reliability of a passively bearish WedEX that triggered on the day. “Unfinished business” was left outstanding at 2908.00.
Overnight action’s new info…
Price has improved, but nothing’s yet obviously predictive. Yesterday afternoon’s narrow range had ended on an upswing to its 2915.50 upper-end, which initially firmed further through the Globex open up to 2918.00. Its reversal back down into the range was recovered to touch yesterday’s 2918.75 high. Its reaction down barely attacked yesterday afternoon’s high as support.
If, then… (notes to accompany the Tour recording)
If overnight price improvement is going to be predictive, then it’s time to start being obvious about it. And this pattern only offers a chance for being bullishly predictive, not bearishly. The first step would be to indicate a gap up. Not only because no traction was gained yesterday, but also to convert the passively bearish WedEX into actively bullish. That can be done by proxy of gapping up or immediately extending to fresh highs. So, whether at Thursday’s open, or later intraday, the rally is free to resume at any time. All of which would require ignoring the 2908.00 attraction below. And a pullback has room deeper down to 2903.00 just as noise — momentum doesn’t even threaten to reverse down from above 2900.00. .
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2920.25 would be likely to trigger the 2918.25 bias-up signal at 10:15. Exiting the open under 2915.50 would be unlikely to trigger bias-up.