VISUALIZE [snapshot] IDENTIFY [sponsorship] VISUALIZE [snapshot] IDENTIFY [sponsorship] DO IT [styles] TUE P.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if: VISUALIZE [snapshot] IDENTIFY [sponsorship] DO IT [styles] SUMMARY - characterize the session: WED A.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 10:15 ET if:Pre-Open Stock Forecast - 7:30 AM
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Recap/Indication: Retesting Fri's 3805 high was already reacting down through Mon's open to 3771. The afternoon's no-bias window didn't prevent rallying to fresh highs at 3822, leaving unfinished business below at 3768 and 3798.
Overnight summary: An early surge above yesterday's high up to 3828 was soon reversed back down to 3816 unchanged, and then lower through Europe's opens to 3800. Reversing back up quickly attacked earlier highs, and then briefly higher to 3831.
Influences/Catalysts: No econ reports or Fed speakers, Election coverage, "Blood Moon" eclipse, FX/FTT collapse, Powerball delayed.
Setups/Patterns:
- Globex-flip would trigger back under 3809 through the first 15 minutes.
- Next higher objective at 3835 (attacked overnight), potential to 3880.
- Too-late-to-break if triggered 60-90 minutes pre-open.
- Unfinished business below at 3798, 3768.
Traction/Isolation: Mon's second consecutive higher close is mitigated by being an inside day.
Objectives/Limits: UP: 3835, 3880... DOWN: 3798, 3768.
Alternative: Whether rallying further to 3835, or probing overnight lows down to 3798, a reversal back to unchanged would be likely.
Stock Market Opening Trends - 10:55 AM
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Recap/Indication: Higher and higher pre-open highs met the 3835 target and reversed down into the 3827 open on the way to 3811. That was Globex's 3809-3816 first-hour range, whose support is more vulnerable early in the first 15 minutes than at the window's very end. Its reaction eventually triggered the 3822 bias-up signal, and is now probing overnight highs up to 3849.
Influences/Catalysts: No econ reports or Fed speakers, Election coverage, "Blood Moon" eclipse, FX/FTT collapse.
Setups/Patterns (Bias/Labels): BIAS-UP.
Traction/Isolation: Exiting the bias window above 3835 would confirm the 3880 next higher target is in-play.
Alternative: Exiting the window back under 3835 would at least end upside momentum, if not also already reverse it down.
Triggers/Tactics: Giving upside momentum a benefit of the doubt, with care taken as the bias window starts lapsing.
Objectives/Limits: UP: 3835, 3880... DOWN: 3798, 3768.
Tonight's Day Trading Strategy - 11:59 AM
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BIAS-UP will trigger above 3866, targeting 3878.
BIAS-DOWN will trigger under 3848, targeting 3833.
NO-BIAS if still between both signals.
Mid-Day Market Thoughts - 1:33 PM
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Recap/Indication: Exiting the morning bias window above 3835 confirms the next higher objective in-play at 3877-3880. Already testing 3860-3867 into the noon hour on overbought RSIs introduced a refueling dip targeting 3844-3848. No-bias triggered after touching the 3866 bias-up signal.
Setups/Patterns: NO-BIAS, TOUCHED BIAS-UP, Overbought RSIs at the high require a retest.
Traction/Isolation: Recovering 3835 confirmed 3877-3880 in-play, with room for noise up to 3892 before confirming the interim dip to 3704 had ended a correction.
Alternative: Overbought RSIs at 3866 undermine a sell signal, but the pullback limit was violated, and the high has been retraced by 61.8%, while upside momentum may be in need of a refueling pullback. Keeping a sell signal active.
Triggers/Tactics: A pullback targeting 3844-3848 could start to form an afternoon range, whether triggered under 3854 or from probing a fresh high to 3871-3872.
Market Performance Signals - 4:32 PM
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Overnight swings from bias-up to bias-down and back again had already foreshadowed pliability. Reversing the open's dip to 3811 back up to fresh highs at 3867 was derailed from extending higher when FTX headlines triggered a collapse to 3793. Almost all of which was recovered to 3856 before sliding to 3825 through the close.
Setups in-play: Overbought RSIs require retesting 3867.
Setups resolved: 3798 unfinished business below was neutralized.
Trending/ranging: Third consecutive higher close.
Traction/Isolation: Intraday collapse isolated sellers. Unless Wed gaps down under Tue's low, buyers will be rewarded at least back to the 3867 intraday high.
Influences/catalysts: FTX failure/acquisition, Elections.
Objectives/limits: UP: 3863, 3877-3880, 3892... DOWN: 3768.
Scheduled/Monitoring: Still no high-profile econ reports, but a late-morning Fed speaker appears.
Tomorrow's Day Trading Plan - 4:56 PM
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BIAS-UP will trigger above 3848, targeting 3863.
BIAS-DOWN will trigger under 3823, targeting 3808.
NO-BIAS if still between both signals.