Visualize. Identify. Do It.

REMINDER:
I'M AWAY FROM THE SCREENS AFTER THE OPEN...
No further updates updates today.
[vidiROOM remains open]

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Initial firming back up to 4008 was reversed to the 3991 bias-down signal, firming again after midnight through Europe's opens. Collapsing amid earnings headlines extended to 3962 before firming into Fri's open. Rallying relentlessly through the first hour to 4000 was corrected to 3985 before firming into the noon hour to trigger a bullish PM Drift that extended to 4024.
Overnight price points : Sun night's attack on the 4029 bias-up signal reversed down through midnight and Europe's opens to 3997 support. Bouncing 23 points reversed back down into Mon's early close, and back to 4001 Mon night.
Catalysts : BTC higher, Earnings underway, PPI Wed, BOJ Wed night, US Debt Ceiling debate*.

*US Debt Ceiling debate: The effect on US credit-worthiness is actually the opposite of how it is being portrayed by ceiling-hike proponents. Notice the bond chart below of 2011's debate that resulted in spending cuts -- the ratings agencies downgrades were ignored...

But also notice the 2011 S&P chart below bonds, which is where pain is actually felt from reduced government spending.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : Rally targets met (again).
Their influences : Is it, or isn't it? The rally's highest target at 4008 is being tested, but not yet broken to put into play a higher series of objectives and attractions.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Premise : Was the beginning of a correction saved by the 3-day weekend's impending illiquidity, or was its can just kicked down the road (i.e. to today)? Still hovering around 4008 through holiday trading keeps alive upside potential, but also reinforces 4008's relevance.
Alternative : Meanwhile, intraday trending attempts are credible for extending, but beware of that trending attempt when a timing window exit has not maintained its probe beyond a prior high or low or relevant support or resistance.
Levels : UP: 4033, 4056, ...4121… DOWN: 3999, 3966, 3948-53, 3914.

CURRENTLY UPDATED CHART:

 
         Visualize. Identify. Do It.

REMINDER:
I'M AWAY FROM THE SCREENS AFTER THE OPEN...
No further updates updates today.
[vidiROOM remains open]

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Sun night's attack on the 4029 bias-up signal reversed down through midnight and Europe's opens to 3997 support. Bouncing 23 points reversed back down into Mon's early close, and back to 4001 Mon night.
New price points : A last-minute surge to fresh highs at 4023 is always suspicious when delayed until the pre-open's last minutes. In fact, this extreme sentiment proved to be  excessive sentiment by reversing down quickly to 4009. Quickly enough for another surge to 4035, which also reversed down sharply to 4007.
Catalysts : BTC higher, Earnings underway, PPI Wed, BOJ Wed night, US Debt Ceiling debate.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : LATE NO-BIAS, TESTED BIAS-UP... Ongoing 4008 overlap.
Their influences : Is it, or isn't it? The rally's highest target at 4008 is being tested, but not yet broken to put into play a higher series of objectives and attractions.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Triggers/Tactics : The last-minute pre-open optimism and post-open higher high are two sides of the same coin. Optimism is extreme, and too excessive so far to maintain, but still having potential to gain traction if a resistance is recovered into the noon hour.
Alternative : Anxiousness ahead of tomorrow's PPI may already be influencing price action by keeping it range bound. But opinions seem wide ranging, so be sure not to trust first trending attempts for too long.
Levels : UP: 4033, 4056, ...4121… DOWN: 3999, 3966, 3948-53, 3914.

TUE P.M. BIAS 

STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if:
BIAS-UP will trigger above 4018, targeting 4029.
BIAS-DOWN will trigger under 4007, targeting 3995.
NO-BIAS if still between both signals.