The First Trade & Pre-open Tour Recording… The world is waiting.

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…
Tuesday’s 2823.00 open was greeted 15 points above Monday’s 2808.00 cash session close, and 31 points off of Monday’s pre-open low. Monday afternoon’s 2812.50 bias-up target and the Isolation setup’s 2818.00 objective highs had satisfied their buying pressure overnight. And still Tuesday’s first hour extended up to 2831.25. That’s a lot of buying pressure to expend, let alone to fulfill, so reversing back down to 2812.00 was relatively easy. It should have been as easy for the session to end in a short-squeeze, but te last two hours bounced only 10 points back up to 2822.00.

Overnight action’s new info…
After several consecutive windows of robust trending, price action since yesterday’s close has been non-directional. And non-predictive of its direction. It seems that Global markets don’t know what to make of either yesterday morning’s surge or of its afternoon retracement, and they’re not impressed by the higher close. They’re more influenced now by the sudden relative slowness of yesterday’s last two hours, and its range, have contained overnight action. Initially trending back down 8 points through midnight to within 1 tick of this morning’s 2813.75 bias-down signal, the balance of the night trended back up to within 1 tick of yesterday’s last-minute 2822.00 high. Until 90 minutes ago, which has been dropping relentlessly to now retrace the entire recovery.

If, then…
Closing above last week’s 2818.00 prior highs has put into play the next higher objective at 2836.00 — subject to confirmation today, not of a second consecutive higher close but by not closing back under 2818.00. Otherwise, Tuesday’s 2823.00 open above all prior highs wants to be retested eventually from below. Retesting it before closing back under 2818.00 would be bearish, especially if 2836.00 were visited, first. Meanwhile, failing to exploit Tuesday’s late vulnerability to a short-squeeze made overnight action vulnerable to extending Tuesday’s pullback if Wednesday’s open isn’t gap up, which it’s currently not.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2816.00 would be unlikely to trigger the 2813.75 bias-down signal at 10:15. Exiting the open under 2821.00 would be unlikely to trigger the 2823.50 bias-up signal.