The First Trade & Pre-open Tour Recording… Limber up.
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…
Sunday night’s Globex open had been preceded 20 minutes earlier by a favorable Trump tweet about China trade. Gapping up to 2799.50 extended only momentarily to 2803.50 and ranged narrowly sideways, before retracing the gap to 2794.50. That found actual buyers, and Monday’s open was greeted at 2808.00. Extending higher to 2813.50 at the bias environment high was isolated by noon, reversing the intraday trend. A lot. The balance of the session slid to within 2 ticks of the 2794.50 Globex low. Monday’s opening gap up above all prior highs was left outstanding for retest from below. Also, last Thursday’s bearish Isolation setup was invalidated unless reinstated by proxy at Tuesday’s open.
Overnight action’s new info…
Monday’s close had made a hold-short compelling. Globex didn’t delay extending down to within 3 ticks of what is this morning’s bias-down signal at 2791.50. A bounce soon failed and the decline extended down to 2783.50 well before midnight. Recovering back up into and out of Europe’s opens touched 2791.50. Its reaction down to 2785.00 was fully retraced to retest 2791.50, where another reaction down is developing.
If, then… (notes to accompany the Tour recording)
Sunday’s Trump tweet was only the first taste of the week’s catalysts for price action. Trump is in Vietnam meeting with South Korea’s Un, just as India-Pakistan conflicts escalate. Meanwhile, the Fed Chair’s 2-day semi-annual Congressional testimony begins today, with the embargo on his opening remarks is to be lifted at 9:45 — just as the opening 15 minutes of volatility would normally lapse. Enhanced volatility could both gap down to reinstate last Thursday’s bearish Isolation setup, and also bounce to neutralize the attraction above at yesterday’s open. Regardless of the bigger picture agenda, volatility through tomorrow morning should offer plenty of trade setups… Here’s yesterday’s video example of a live Risk:Reward analysis, which will be added to the Knowledge Base.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2795.50 would be unlikely to trigger the 2791.50 bias-down signal at 10:15. Exiting the open under 2788.00 would be likely to trigger bias-down.