The First Trade & Pre-open Tour Recording… New Highs, or not.

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…
Wednesday’s thinly-traded narrow range resolved just hours before Thursday’s open. Gapping up 12-13 points to 2928.00 then trended higher relentlessly into the afternoon to attack 2941.00. Its proxy served to trigger an actively bullish WedEX. Thursday afternoon’s final hour entry and proxy window gained traction, which the position-squaring window neither exploited nor rejected.

Overnight action’s new info…
Globex initially consolidated Thursday’s gains while ranging flat-to-higher up to 2942.50. That became slightly more pronounced into and out of Europe’s opens, extending briefly to 2945.50. Its complexity creates a “new Globex trend extreme”. The reaction has now retraced back into yesterday’s range to test the 2938.00 earlier Globex low.

If, then… (notes to accompany the Tour recording)
This dip back into yesterday’s range is testing the earlier Globex low, and breaking it through the open would reverse the trend down for at least the morning. There is meanwhile now another upside attraction or influence in addition to this afternoon’s bullish WedEX. It’s the overnight probe of fresh highs that formed a “new Globex trend extreme,” which requires intraday retest. Thursday afternoon’s traction doesn’t immunize Friday morning from a pullback. And a morning pullback wouldn’t necessarily interfere with the afternoon’s plans. Regardless, keep in mind that expiration — Quad Witch, no less — can accentuate, accelerate, or prematurely abandon otherwise reliable signals. This being a Friday, the morning’s bias tends to persist through the noon hour.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2937.50 would be unlikely to trigger the 2940.50 bias-up signal at 10:15. Exiting the open above 2943.25 would be likely to trigger bias-up.