The First Trade & Pre-open Tour Recording… Range bound.

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 night’s drop to 2560.50 under intraday lows was tempered before Thursday’s open, but bias-down triggered anyway. Bias-down triggered cleanly after testing its target, but rallied through the morning and noon hour up to 2593.50. Its 20-point pullback recovered to fresh highs attacking 2600.00.The ongoing series of higher highs and higher lows was maintained, albeit threatened.

Overnight action’s new info…
There has been no follow-through to yesterday’s last rally legs. Instead, reactions down have attacked and probed 2588.00 as support. Bounces have attacked and probed 2597.00 as resistance. The sideways range’s lower-end is now being attacked.

If, then… (notes to accompany the Tour recording)
The rally’s next higher objective at 2606.00 remains intact. Thursday’s extra swing makes fresh highs somewhat likelier to include the room for noise up to 2626.00. Regardless, any reversal setup that includes at least a touch of 2606.00 would be credible for extending back down. Meanwhile nothing in the pattern prohibits another interim dip, limited to 2581.00 to be brief or to 2567.00 to be recoverable, while any deeper could make fresh highs unlikely.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2590.75 would be unlikely to trigger the 2588.00 bias-down signal as support. Exiting the open under 2586.00 would be likely to trigger bias-down.