The First Trade & Pre-open Tour Recording… Trepidation.

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 finally probed prior highs, and finally tested the rally’s 2606.00 next objective. A 20-point overnight rally to 2600.25 had been retraced back down to 2580.25 before the open. But it repeated intraday to attack 2614.00. Another 20-point dip to 2594.00 was recovered to within 2 points of 2614.00, before reacting back down to settle within 3 ticks of 2606.00.

Overnight action’s new info…
Choppy ranging tried breaking lower ever so slightly to touch 2602.50. It was enough of a stretch for the rubber band to snap back up and eventually probe fresh highs up to 2617.00. No improvement into or out of Europe’s opens didn’t help the rally effort, and price has since dipped back down to 2607.50.

If, then… (notes to accompany the Tour recording)
Essentially still overlapping 2606.00 during Tuesday’s final minutes didn’t allow closing above it to put into play the rally’s next higher objective at 2656.00. And now room for noise up to 2626.00 could still be tested today without yet putting into play the next higher target. Meanwhile, having met 2656.00, the pattern’s vulnerability to a collapse is at its greatest. Not yet reversing down by this afternoon would start replacing that vulnerability with a growing likelihood of extending to 2656.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2611.25 would be likely to trigger the 2608.50 bias-up signal at 10:15. Exiting the open under 2603.00 would be unlikely to trigger bias-up.