The First Trade & Pre-open Tour Recording… Sunday’s similar sequential setups.

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 night’s relentless rally from 2782.75 had extended 20 points to 2803.00. And that was before a last-minute surge through the open extended to neutralize the “unfinished business” back to Monday’s 2807.75 opening gap. Obligatory resistance was expected, but its reversal nearly retraced all of Thursday’s close down to 2787.00 by noon. The balance of the session rallied back up to within 3 ticks of the open’s high, closing at 2804.50.

Overnight action’s new info…
Another last-minute Trump China trade tweet triggered a buying frenzy at Sunday night’s Globex open. Gapping up to 2814.00 quickly extended to attack 2820.00. I added a warning to the chaRTroom screen that since last week’s similar setup had held up and eventually extended this sequential Sunday’s similar setup would be vulnerable to reversing down. And the balance of the night has only trended back down, through midnight and Europe’s opens, probing below the earlier Globex low to 2809.50.

If, then… (notes to accompany the Tour recording)
Friday afternoon’s recovery was slightly less likely to reverse down immediately, likelier to first extend higher. Having missed the opportunity Friday morning for being satisfied with only an attack on last Monday’s 2814.00 high to 2812.50, extending higher had become likely to probe fresh highs up to 2817.50. So, Sunday night’s gap up has neutralized upside attractions. Being a similar setup to last Sunday suggests resolving differently by Monday’s open. This week’s instance lacks the complexity to form a “new Globex trend extreme” requiring intraday retest, but the setups are still comparable. I’ll be reluctant to sell prior to its retest so long as the open remains within the overnight high’s orbit, which begins above the open’s 2812.00 opening low. The area below it down to Friday’s ~2808.00 highs is a gray area, but exiting the opening 15 minutes any lower would be treated as a bearish Globex-flip — likelier to trend down this morning.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2808.00 would be unlikely to trigger the 2809.75 bias-up signal at 10:15. Exiting the open above 2812.50 would be likely to trigger bias-up.