The First Trade & Pre-open Tour Recording… Not going gently.
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…
Already probing fresh lows Sunday night, Monday’s session developed overwhelmingly in negative territory. The overnight attacks on 2790.00 were repeated Monday morning and and Monday afternoon. Between overnight and intraday dips, 2-3 drops and recoveries represent 2-3 accumulative efforts. None of which ended above a relevant resistance, holding tests of Sunday night’s 2813.00 open in the morning, and the last 60-90 minutes bouncing to test Friday’s 2806.00 close. The last bounce was the consequence of no-bias trending that expended maximum selling pressure without gaining traction for the effort. The reaction up rescued the session from collapsing to fresh lows.
Overnight action’s new info…
Monday’s late bounce extended higher almost uninterrupted to retest Monday morning’s highs, coming within 1 tick of this morning’s 2817.25 bias-up target by midnight. Reacting back down tested and retested 2809.50 before and after Europe’s opens. The last reaction up has now extended to fresh highs at 2822.50.
If, then… (notes to accompany the Tour recording)
Gapping up Tuesday above relevant resistance like 2819.50 (being probed now up to 2822.50) could serve by proxy to trigger the recovery that Monday morning had twice attempted. Now having closed twice under the 2813.00-2819.50 prior lows, bouncing back above it wouldn’t damage the decline’s chart. Even then, recovering above 2830.75 would be a challenge. Whether testing higher resistance first, or just resuming the decline, the pattern remains likely to resolve down, and to extend. A bearish morning (and then day) is still possible, but requires reversing down soon to at least avoid triggering bias-up.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 2819.50 would be likely to exceed the 2817.25 bias-up target at 10:15 to renew the bias-up signal. Exiting the open above 2813.00 would be likely at least to trigger the 2811.50 bias-up signal at 10:15.