The First Trade & Pre-open Tour Recording…Marking time.

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…
Friday’s gap down held a test of Tuesday’s ~2626.00 low through the open and bounced. As did a mid-morning retest. Which usually on Fridays will have trapped sellers into getting squeezed for a bigger bounce through the close. But Friday’s retest of Tuesday’s low failed before the bias environment had lapsed, reflecting stronger-handed sponsorship. Two noon hour reversal attempts were facilitated by Friday Factors, but not exploited as the balance of the session trended back down to prior lows attacking 2597.00.

Overnight action’s new info…
Sunday night’s open blipped-down to a fresh low at 2595.50 and immediately began recovering. Hovering at or above 2616.00 began breaking lower before Europe’s opens, and extended through Europe’s opens, until touching 2602.00. Its 11-point reaction up has now been retraced entirely to pierce under 2601.00.

If, then… (notes to accompany the Tour recording)
Friday’s close was a new low close, albeit still within the range of Monday’s prior intraday low. The latter aspect keeps alive potential for another bounce. But any delay should be only a formality while in the process of launching another downleg of the bigger picture’s ongoing decline. The resolution to this morning’s open could dictate whether the near-term resolution includes another bounce. Leaving a gap outstanding won’t be predictive.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2608.50 would be likely to trigger the 2606.50 bias-up signal at 10:15. Exiting the open above 2599.00 would be unlikely to trigger bias-up.