The First Trade & Pre-open Tour Recording… Seasonal bullishness finally arrives.

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’s price action was contained entirely within Tuesday’s 2632.00-2671.00 range, essentially qualifying it as another inside day. So was Tuesday — Thursday was closed. Any other session would have considered this sequence to be bearish, and closing at Friday’s 2628.00 intraday low would have been a compelling hold-short, especially for still not rallying out of the 2635.00 test, and despite still being above the 2626.00 overnight low. But that predictability is undermined by the evaporating volume. So, the late 13-point slide back under the 2631.00 open didn’t qualify for a hold-short through the early close.

Overnight action’s new info…
Sunday night’s open surged 10 points into a narrow consolidation under 2640.00. Later firming again to attack 2646.00 hovered under Friday’s late-morning high. Surging into and out of Europe’s opens has touched 2666.00, just 5 points under Tuesday/Wednesday’s highs. Its reaction down has been consolidating at 2658.00.

If, then… (notes to accompany the Tour recording)
Any delay in recovering coming out of the weekend would have made a retest of the recent 2603.00 likelier. The overnight rally doesn’t reverse the trend up — it’s not even any likelier to extend higher post-open, as seasonal bullishness ended with absorbing Friday’s drop — but it does create room to expend post-open selling pressures before signaling the decline is extending. And extending higher is possible, as is absorbing more backing-and-filling first.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 2652.00 would be likely to exceed the 2645.00 bias-up target through 10:15 to renew the bias-up signal.