Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Bouncing widely overnight had recovered from 3972 up to 4004. Retracing almost all of it down to 3975 was recovered entirely at Tue's P.M. highs. Attacking 3975 again pre-close collapsed to 3965 as month-end portfolio undressing ended.
Overnight price points : Globex quickly extended even deeper to 3956, but reversed up as quickly, as has continued its reversal relentlessly back to 3991.
Catalysts : PMI, ISM, Fed speaker.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : Globex-flip.
Their influences : Probing intraday lows overnight is now recovered back above the Globex open’s range, which would be bullish for the morning if that recovery were maintained through the first 15 minutes.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Premise : Buyers keep getting supply dumped on them, but they keep coming back for more. Now it's yesterday afternoon's slide, including the last-minute collapse that bled lower into Globex. All of which has been retraced -- the last-minute collapse entirely, and the entire slide by more than 61.8%. Just exiting the open above 3983 would isolate another interim dip. And also now having neutralized month-end window undressing, any initial post-open strength continues to be credible for extending back through 4019-4028 to test last Tue's 4045 gap down.
Alternative : Not already rejecting Tue's last-minute collapse into Wed's open would suggest that even a bottoming pattern requires at least probing Fri's lows to reset.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.

CURRENTLY UPDATED CHART:

 
         Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Globex quickly extended Tue's collapse from 3985 to 3956 through the Globex open, but reversed up as quickly, and continued its reversal relentlessly back to 3990-3991.
New price points : Reacting down to 3982 began collapsing and extended to 3960 pre-open. Post-open reports first triggered a bounce to 3976 and then its reversal to fresh lows at 3950. Despite triggering bias-down, another bounce is testing 3972.
Catalysts : PMI, ISM, Fed speaker.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : BIAS-DOWN... Globex-flip.
Their influences : Exiting the first 15 minutes within the Globex open's range prevented the Globex-flip setup from triggering.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Triggers/Tactics : Wed's open wasn't already rejecting Tue's last-minute collapse. Another round of supply being dumped on buyers has prevented their overnight recovery from forming isolation. And if the A.M. bias window exit is back under supports like Tue's 3972 close, then buyers will have failed to isolate sellers and the morning's decline would be free to extend. The bias-down suggests that sellers are taking control for lower lows.
Alternative : No fresh lows since triggering bias-down at 10:15 makes its rejection easier by entering the noon hour above the 3988 bias-up signal. Regardless, a temporary interim bounce is possible -- actually, likely, and it was labeled in the vidiROOM between 3958-3968. That leg starts being credible for the bias-up signal's test if it produces a fresh post-open high.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.

CURRENTLY UPDATED CHART:

WED P.M. BIAS 

STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if:
BIAS-UP will trigger above 3975, targeting 3990.
BIAS-DOWN will trigger under 3957, targeting 3944.
NO-BIAS if still between both signals.