The First Trade & Pre-open Tour Recording… Still in the woods.
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 was defined by two big intraday recoveries, albeit from only one new low. The first drop had developed mostly overnight, and extended momentarily post-open down to 2878.00 — 12-16 points under Friday’s close and still above Friday’s low. It was recovered to attack Friday’s close. The second drop was almost 28 points down to 2866.00, 7 points under Friday’s low. It was also recovered to attack Friday’s close. Two big recoveries, and still in negative territory. Closing back above Thursday’s 2887.75 low for a second consecutive session was constructive, but not a reversal signal. And gaining traction through the afternoon windows wouldn’t be reliable.
Overnight action’s new info…
Shallow sideways ranging down to 2889.00 never probed positive territory, and persisted until Europe’s opens approached. Then the range started breaking lower, and lower. A brief consolidation has now resolved down to fresh overnight lows at 2876.00.
If, then… (notes to accompany the Tour recording)
Monday afternoon’s traction wasn’t influential overnight, leaving this morning, but gapping down isn’t helping. “Unfinished business” left from Friday at 2990.25 remains outstanding above, while Monday’s new unfinished business below at 2880.50 has been neutralized overnight. Testing it is vulnerable to also testing 2867.75, and oversold RSIs at Monday’s 2866.00 low — and then to extending the decline to 2850.00 unless rescued by the attraction to unfinished business above and yesterday afternoon’s upside traction.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2883.00 would be likely to trigger the 2885.00 bias-down signal at 10:15. Exiting the open under 2874.75 would be likely to exceed the 2877.25 bias-down target at 10:15 to renew the bias-down signal.