The First Trade & Pre-open Tour Recording… Trade Wars fighting for attention.

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…
Friday’s open was greeted at the morning’s 2912.25 bias-up signal, and only probed it momentarily before dipping back into Thursday’s range. Higher highs had been probed up to 2917.25 overnight into and out of Europe’s opens, forming a “new Globex trend extreme” that requires intraday retest. But that was left outstanding while the morning dipped back down to 2906.50 and the afternoon fell to 2902.00. But a late afternoon surge returned to Thursday’s 2912.00 high, and the 2911.25 close was slightly positive on the day.

Overnight action’s new info…
Trade war headlines Sunday afternoon triggered a gap down Sunday night. But it was relatively shallow at 2909.00, even after sliding to 2904.00. Narrow ranging there into Europe’s opens was reversed up to Friday’s 2911.25 close. Its reaction down is now testing 2906.00-2907.00 as support.

If, then… (notes to accompany the Tour recording)
Friday’s close was a new trend high, but not above prior intraday highs, which would have entrenched the rally. Recovering from more backing-and-filling is possible, but the rally requires no more of that. So, resuming the rally today requires gapping up or else waiting until late afternoon. Gapping up would have been probing higher usually by now — there’s still time, but it needs to be obvious soon. Meanwhile, bubbling and percolating with probes into positive territory testing 2914.50 would help to pass time while awaiting a clear window to rally. Otherwise, extending the pullback has room to test 2987.00 without beginning to threaten reversing the trend down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2903.50 would be likely to trigger the 2907.00 bias-down signal at 10:15. Exiting the open above 2908.75 would be unlikely to trigger bias-down.