The First Trade & Pre-open Tour Recording… Opening with a punch.

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 gapped up to the rally’s next higher objective at 2656.00, and soon began a dip that attacked Thursday’s 2645.50 high. The bias timing window touched 2647.00 and resumed rallying through the noon hour to 2677.25. The afternoon bias environment’s dip to 2662.00 was retraced to 2670.50 through the cash session close, and to 2672.50 through the futures close, and then to 2677.75. The bullish WedEX was a wash by the cash session close, and marginally successful by the futures close.

Overnight action’s new info…
The market was under pressure from Sunday night’s open, which gapped down to 2669.00-2673.50, and continued falling through Monday morning to test 2656.00 — what was Friday’s opening print, and what had been the rally’s next higher objective and . Bouncing to 2666.00 through last night’s open was reversed down to 2649.50, which is now being retested after an interim bounce to 2658.00.

If, then… (notes to accompany the Tour recording)
Closing above 2656.00 Friday put into play the rally’s next higher objective at 2701.00. Closing firmly above its room for noise at 2668.50 would have helped to confirm the new target, if not also resume the rally aggressively and without delay. However, still overlapping 2668.50 at Friday’s close left the door a little wider open to rejecting the new target, by both opening and closing back under 2656.00. That’s currently indicated, but with plenty of time to recover pre-open if the market intends. Meanwhile, irrelevant to the open gapping down, the WedEX’s influence may insert an aggressively bullish post-open detour through this morning’s bias environment. A session-long decline setup could form by gapping down under its 2662.00 afternoon low after having trended up into Friday’s close, but it’s not very reliable when developed over a weekend, let alone over a three-day weekend. And having trended down relentlessly since the last close, all while being contained within Friday’s range, it may be difficult for overnight sponsorship to find opening reinforcements that will take price lower.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2656.00 would be likely also to exceed the 2657.50 bias-down target at 10:15 to renew the bias-down signal. Exiting the open under 2663.50 would be likely at least to trigger the 2666.00 bias-down signal at 10:15.