The First Trade & Pre-open Tour Recording… Make it, or break 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…
Monday’s flat open deceptively seemed like a recovery, after having probed both bias-down parameters overnight. But that was too late to still be challenging positive territory. So the open’s blip-up to 2821.75 snapped back down through the noon hour to 2798.25. The pullback’s next lower objective at 2801.50 was met, and held as support through the close. Actually, 2801.50 was still being overlapped at the close, but not broken.

Overnight action’s new info…
Yesterday afternoon’s choppy ranging has only narrowed overnight. A very shallow upward tilt has gradually improved from 2803.00-2804.00 to touch 2811.00. Perhaps not yet actually improvement, and still little more than it is just noise. Or, anxiousness.

If, then…
Monday’s closing test of 2801.50 can still be rejected by proxy, if Tuesday’s open were to gap up above the prior high. That’s Monday afternoon’s 2811.25 high, currently being attacked. Avoiding fresh overnight lows isn’t necessarily stability, not without alternatively rejecting yesterday’s trend. Overnight action is close to probing 2811.25, but its recovery at the open would be more credible if already serving as support. And having trended down into Monday’s close, the setup would also trigger a session-long reversal. Shallower opening strength would remain vulnerable to another downleg targeting 2875.00-2881.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2811.25 would be likely to trigger the 2808.50 bias-up signal at 10:15. Exiting the open under 2805.50 would be unlikely to trigger bias-up.