The First Trade & Pre-open Tour Recording… Relentlessly higher overnight.
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’s pre-open recovery had extended post-open to attack 2844.00. That was just the first hour. Despite triggering the 2040.75 bias-up signal and putting into play its 2847.75 bias-up target, a 22-point, 2-1/2 hour drop exited the noon hour back at the 2820.50 overnight lows. That was structural support, and also calculable support for being the afternoon’s bias-down target. The 2826.00 bias-down signal was recovered just in time to avoid triggering, extending to test its 2833.75 bias-up signal’s resistance. Sliding through the balance of the session attacked session lows.
Overnight action’s new info…
Initially firming attacked and then tested 2832.00 by midnight, still far enough below yesterday afternoon’s high to not be considered “stopping pessimistically short.” Nevertheless, extending higher into and out of Europe’s opens has attacked 2839.00. Its 6-point reaction held at test of 2833.00, and another bounce is within 1 point of fresh highs.
If, then…
(The correct value for bias-up is 2830.50)… “Unfinished business above” was left outstanding at the morning’s 2847.75 bias-up target. Monday morning’s Isolation setup was all but invalidated. Friday’s breakout was essentially confirmed. Gapping up Tuesday above Monday afternoon’s 2833.50 high, after having trended down into Monday’s close, would form a “session-long rally” setup. The Isolation setup would get a reprieve, and the confirmed breakout would get a detour. Otherwise, at least a third lower close is now required. Meanwhile, overnight trending has been relentless, which is always more vulnerable to a post-open reversal. And if the overnight margin above afternoon’s 2833.50 high remains so obvious getting closer to the open, then NOT maintaining it post-open could be as bearish as the setup would have been bearish.
First Trade…
[Click here to view the Bias parameters] (There was an error in publishing this morning’s bias-up signal. Its correct value is 2830.50)… Exiting the open at 9:45 above 2832.75 would be likely to trigger the 2830.50 bias-up signal at 10:15. Exiting the open above 2837.50 would be likely to exceed the 2836.00 bias-up signal through 10:15 to renew the bias-up signal.