The First Trade & Pre-open Tour Recording… Neutralizing upside attractions.

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 session was greeted by a choppy sideways overnight range. Post-open trending attempts poked at either end of the 2632.00-2645.00 range, but couldn’t get anywhere since starting from a standing stop. The open’s tests of 2632.00 support were isolated to help trigger bias-up, but the morning’s 2650.00 bias-up target became “unfinished business.” The noon hour’s test of 2632.00 wasn’t isolated, and the afternoon’s 2627.25 bias-down target was tested to 2626.00. A likely attraction to 2625.00 was not fulfilled, so neither was the ongoing potential for 2605.00. bias environment lapsed and the balance of the session eked higher to attack 2643.00 at the close.

Overnight action’s new info…
INTC’s earnings miss and lower guidance triggered a post-close spike down to 2633.50. It was eventually recovered and reversed to test 2645.00, and then higher to attack 2652.00. Sideways ranging since then expanded momentarily to touch 2645.00 below and 2653.00 above. Now a break higher to 2656.00 is reacting back down to 2650.00.

If, then… (notes to accompany the Tour recording)
Having neutralized the attraction up to 2650.00, the bearish scenario could retake control at any time without leaving “unfinished business” to inhibit a decline. Not already reversing down through the open would suggest the corrective bounce will revisit 2656.00 for another chance to reverse down, or else to extend higher to 2666.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2651.50 would be likely also to exceed the 2650.00 bias-up target at 10:15 to renew the bias-up signal. Exiting the open above 2647.00 would be likely at least to trigger the 2643.75 bias-up signal at 10:15.