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The First Trade… WedExing. – If, Then… Market Timing

The First Trade… WedExing.

By Rod David | July 20, 2015 - 6:49 am

Proper context can start the day with a solid win and make all the difference.

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close…
Friday”s open trended down throughout, but remained within the range. The setup”s bearish influence produced only a momentary lower low — touching the morning”s 2112.75 bias-down signal — and kept the market hovering at its lows until late-afternoon. The bullish WedEX influenced the final two hours to trend up to fresh highs, which peaked upon fulfilling the offsetting test of the morning”s 2119.75 bias-up signal.

Overnight action”s new info…
Sunday night”s flat open soon began probing higher, extending so far to 2122.75 and consolidating above Friday”s highs. This is against the backdrop of China”s market facing renewed difficulties, and a “flash crash” in Gold.

If, then…
Having influenced Friday afternoon, the bullish WedEX should also influence Monday morning. The signal is beyond being inverted, and can only succeed or fail. Its influence this morning can be more obvious than it was Friday afternoon, i.e. steeper and more productive.

First Trade…
Exiting the open at 9:45 above 2123.75 would be likely also to trigger the 2121.75 bias-up signal at 10:15. Exiting the open under 2114.75 would be unlikely to trigger bias-up.

Posted in S&P, The First Trade