The First Trade & Pre-open Tour Recording… Sellers getting a head-start?

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…
Thursday literally snatched victory from the jaws of defeat. The pre-open fresh low attacked critical 2813.00 support, but recovered back above Wednesday’s 2817.25 low to form an Isolation setup. Its reward would be to retrace the week’s ~2860.00 prior high. The setup gained confidence halfway through the opening 15 minutes of volatility, and from the entire open’s steep slope, if not also from extending higher through the first half-hour. A noon hour pullback resolved up to 2866.00 — already fulfilling the Isolation setup’s objective.

Overnight action’s new info…
Exiting Thursday afternoon’s bias environment ranged sideways through the close. The range persisted through the Globex open, dipping to 2856.00 by midnight. That was also a test of this morning’s 2857.25 bias-down signal, and its test produced a bounce back up to unchanged at 2862.50. A 30-minute drop fell down to 2847.25, which is still being tested as price hovers around this morning’s 2849.25 bias-down target. Interestingly, Zerohedge is reporting a favorable Trump China Trade comment, and it’s having only little near-term impact on price.

If, then… (notes to accompany the Tour recording)
Thursday afternoon’s no-bias trending has now been retrace to both its 2854.50 bias-up signal and 2852.00 1:20 print, which remained attractions below. The afternoon’s buyers had gained no traction for their efforts, so extending higher today all but requires gapping up, which isn’t currently indicated. Rallying anyway would be likely to fail, whether only from filling the gap back to yesterday’s close or probing yesterday’s highs. Meanwhile, the week’s earlier 3-day series of failed intraday rallies hasn’t indicated its demise, but it’s not yet clear whether the overnight dip is the start of its return, or if it’s just natural backing-and-filling after a multi-session outside day.

First Trade…
[Click here to view the Bias parameters] Exiting the open above 2861.00 at 10:15 would be unlikely to trigger the 2857.25 bias-down signal at 10:15. Exiting the open at 9:45 under 2854.50 would be likely to trigger bias-down. Exiting the open under 2846.00 would be likely to exceed the 2849.25 bias-down target at 10:15 to renew the bias-down signal