The First Trade & Pre-open Tour Recording… Stealing post-open aggression?
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…
Especially volatile overnight action preceded Tuesday’s open. None of which reversed momentum down and only chipped away at resistance. Two overnight dips to 2655.00 had been interrupted by a spike up to 2684.00. Similarly, the post-open dip to 2655.00 was also recovered, back above both bias-down parameters by 10:15 which put into play offsetting tests of both bias-up parameters. The balance of the session climbed back up to eventually attack the overnight high within 1-3 ticks. The morning’s 2686.00 bias-up target remained outstanding.
Overnight action’s new info…
Tuesday’s recovery was probing fresh highs through the close. Globex immediately fulfilled the outstanding target and touched 2688.75 as resistance. A pullback to 2681.00 was recovered to fresh highs at 2692.50. Its reaction down to 2683.00 through Europe’s opens was fully recovered, and now another reaction down has recovered by spiking up to fresh highs attacking 2696.00.
If, then… (notes to accompany the Tour recording)
Coiling and restrained optimism in probing above Monday’s highs suggested that extending higher at all would almost literally explode higher. Subdued gains would suggest instead a rubber band stretching, before it snaps back down. Gapping doesn’t qualify as exploding higher. So, not extending higher aggressively post-open would remain vulnerable to snapping back down. “Lower prior highs” and the gap back down to yesterday’s close would offer support, so that a reaction down could still recover and resume the rally.
First Trade…
[Click here to view the Bias parameters] Exiting the open above 2696.50 would be likely also to exceed the 2694.75 bias-up target through 10:15 to renew the bias-up signal. Exiting the open at 9:45 above 2691.75 would be likely to trigger the 2688.00 bias-up signal at 10:15. Exiting the open under 2686.00 would be unlikely to trigger bias-up.