The First Trade & Pre-open Tour Recording… More than compensating for the delay.
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 similarity to Wednesday — not so much in form as in function — continued the behavior as if lost in the Bermuda Triangle. The morning’s late no-bias signal left its 2866.25 target outstanding. The afternoon’s noN-bias fluctuated narrowly and couldn’t sustain its attack on session highs. Those are similar in function, reflecting weak-handed sponsorship on both sides. The final minutes repeated Wednesday’s late plunge back to session lows. Wednesday’s “unfinished business below” at 2852.00 was almost met.
Overnight action’s new info…
The ongoing inability to rally was likely due to the 2852.00 unfinished business below. And probing under it down to 2841.00-2843.00 to compensate for the delay had become likely. Thursday night’s slide immediately fulfilled 2852.00, and then kept grinding lower to attack 2848.00. Breaking sharply lower extended to 2839.00 into Europe’s opens. Ranging sideways back up to 2844.00. An overnight measurement to 2838.00 was finally fulfilled down to 2836.75, and now 2841.00-2843.00 is being tested as resistance.
If, then…
An Isolation setup is probably off the table. The overnight test of lower attractions should be threatening Thursday’s lows by now. Testing and holding 2841.00-2843.00 through the open could at least start forming a low. A bigger bounce from gapping down would likely dip from 2851.00-2852.00 to back-and-fill before a durable recovery. Post-open selling at some point is almost required, to let the intraday crowed express what the overnight crowd has been doing all night.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2843.00 would be likely also not to recover the 2846.00 bias-down target by 10:15, which would renew the bias-down signal. Exiting the open under 2848.00 would be likely at least to trigger the 2851.00 bias-down signal at 10:15.