The First Trade & Pre-open Tour Recording… Relentless.

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…
Monday morning’s open was the market’s version of “bait & switch.” After only ranging sideways Sunday night, Monday’s open was greeted flat with Friday’s close. But all of that complacency suddenly gave way to a post-open decline. Attacking the morning’s 2906.00 bias-down signal to within 1 tick through 10:15 didn’t trigger it, but it was invalidated by breaking lower through 10:30. Sellers were rewarded down to 2900.50, taking 1-minute and 3-minute RSIs simultaneously oversold. Bouncing out of the noon hour retested Friday’s 2910.00 gap up, which was still being tested at the close.

Overnight action’s new info…
Monday afternoon’s recovery continued without delay at the Globex open, but incrementally, which still qualifies as relentless. A blip-up attacked the 2914.50 prior night’s high and retraced back down to 2910.00. Another blip-up after midnight to 2916.50 was retraced back down to 2913.00. Having chipped away at resistance, Europe’s opens was soon followed by a surge to 2920.00-2921.25, which has been fluctuating around the 2919.00 bias-up target for several hours, forming a “new Globex trend extreme” that is often retested the same day.

If, then… (notes to accompany the Tour recording)
Monday morning’s collapse stopped short of touching last week’s “lower prior highs” at 2898.00 and lower. This disqualified the afternoon’s recovery from neutralizing Friday’s 2910.00 open above all prior highs. So, a downleg wouldn’t yet be credible for extending. Meanwhile, the shallow dips reflected that optimism remained high. No matter how bearish that is from a contrarian perspective, impatient buyers are often rewarded anyway — just not by nearly as much as anticipated. So, probing fresh highs had become likelier before first dipping any deeper, having stopped short twice Friday afternoon and Monday morning. Fresh highs remain vulnerable to rejection, although gapping up does make that window brief again like Friday. Unlike Friday, the overnight rally should resolve in one direction or the other immediately and/or more substantially. I describe these routes specifically in the Market Tour recording.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2920.50 would be likely also to exceed the 2919.00 bias-up target at 10:15 to renew the bias-up signal, next targeting 2926.50-2928.00. Exiting the open above 2915.00 would be likely at least to trigger the 2913.00 bias-up signal at 10:15.