The First Trade & Pre-open Tour Recording… Volatility blips.
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 near the lower-end of overnight ranging at 2719.00, ranging that had broken lower temporarily down to 2709.00. The recovery extended during the morning to probe above Thursday’s 2736.50 highs, and then dipped. A noon hour probe to higher highs attacked 2749.00, and then dipped. One more probe above Thursday’s highs got to only 2745.00, and then dipped, but recovered back up to 2745.00. Closing at or above Thursday’s highs avoided rejecting or invalidating Thursday’s bottoming pattern, but didn’t quite confirm that momentum was reversing up. The bearish WedEX influence was nominal, holding under the noon hour’s highs, and the last dip retesting the bias environment’s entry.
Overnight action’s new info…
Sunday night’s open was greeted by two negative news items, as both US-China trade and PM May seemed to be falling apart. Gapping down under Friday’s last dip touched 2729.00 as a narrowing range formed around this morning’s 2734.00 bias-down signal. Surging into and out of Europe’s opens attacked Friday’s highs up to 2748.00, but only briefly. And only temporarily, now having retraced the surge back down to attack 2730.00.
If, then… (notes to accompany the Tour recording)
Friday’s borderline bearish WedEX influence is enough for initial post-open selling pressure to be credible for producing bearish behavior until this morning’s bias environment lapses. No immediate post-open bearish behavior wouldn’t necessarily be bullish, but should be, since earlier overnight weakness would have failed to attract reinforcements. Regardless, morning trending in either direction would remain vulnerable to reversing direction through the afternoon.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2731.75 would be likely to trigger the 2734.00 bias-down signal at 10:15. Exiting the open under 2741.75 would be unlikely to trigger the 2744.00 bias-up signal. Exiting the open above 2746.00 would be likely to trigger bias-up.