The First Trade & Pre-open Tour Recording… Still holding up, but no higher.
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…
Wednesday’s gap up to 2753.00 quickly extended back up to the 2757.00 “new Globex trend extreme” that had formed overnight. And through it to 2762.00. The bear market rally’s last calculable target at 2751.00 was officially neutralized, along with its room for noise up to 2757.00, both overnight and intraday. The first reaction down attacked the 2753.00 open before bouncing back above 2757.00. The second reaction down touched Tuesday’s 2748.00 high before bouncing back above 2757.00. Like the two bounces before it, price reacted back down. The close bounced off of 2751.00 to overlap the 2753.00 open.
Overnight action’s new info…
Probes lower and lower eventually touched 2745.50 before reversing up. And up. Peaking in a 4-point surge up to 2763.00 at Europe’s opens, its reaction down has bounced 4 points off of 2754.25.
If, then… (notes to accompany the Tour recording)
Thursday is being greeted with no “unfinished business,” and no upside momentum intact. Still overlapping the 2753.00 opening print at the close reflects inertia. That often occurs at a trend extreme, but holding 2751.00 and 2757.00 through the close doesn’t qualify as their rejection. Gapping up today above yesterday’s 2762.00 high could reinstate the upside, for which overnight action has created the predicate. Of course, forming a potential signal and then failing to trigger it can be as bearish as it would have been bullish. Reacting down today is probably the only way to greet Friday afternoon’s bullish WedEX influence from lower levels.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2753.00 would be unlikely to trigger the 2755.00 bias-up signal at 10:15. Exiting the open above 2757.00 would be likely to trigger bias-up.