VISUALIZE [Gather the inputs of Price points, Tests, Timing] IDENTIFY [Process the inputs into Setups, Patterns, Bias] DO IT [Apply the output via Levels, Triggers, Tactics] CURRENTLY UPDATED CHART: VISUALIZE [Gather the inputs of Price points, Tests, Timing] IDENTIFY [Process the inputs into Setups, Patterns, Bias] DO IT [Apply the output via Levels, Triggers, Tactics] CURRENTLY UPDATED CHART: TUE P.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if: mid-day UPDATE VISUALIZE [Gather the inputs of Price points, Tests, Timing] IDENTIFY [Process the inputs into Setups, Patterns, Bias] DO IT [Apply the output via Levels, Triggers, Tactics] CURRENTLY UPDATED CHART: VISUALIZE [Gather the inputs of Price points, Tests, Timing] IDENTIFY [Process the inputs into Setups, Patterns, Bias] DO IT [Apply the output via Levels, Triggers, Tactics] CURRENTLY UPDATED CHART: WED A.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 10:15 ET if:Day Trading Pre-Open Strategy - 7:26 AM
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Visualize. Identify. Do It.
Previously : Sunday night's 2-way market first surged on CS rescue headlines and soon extended to 3978, retracing it all through midnight on the way down to 3897 into and out of Europe's opens. Its recovery greeted Mon's open at 3966 and extended higher through the A.M. bias window to 3989. The noon hour's dip to 3954 was recovered entirely through the close.
Overnight price points : A blip-up to 3998 settled back under intraday highs to 3985 by midnight. Europe's opens launched an actual upleg that formed a couple of Ascending Triangles along the way through both bias-up parameters to 4017.
Catalysts : Pre-FOMC anxiousness.
Setups/Patterns : Bear Flag.
Their influences : Invalidating the week-old continuation pattern relies on recovering at least 3997-4000 prior highs (being tested overnight), and uptrending resistance that coincides Tue at 4027-4035. Sun night's test of the pattern's uptrending support is so far isolated back above Fri's 3933 lows.
Premise : Gapping up through 3997-4000 prior highs can finally formally neutralize Sun night's Already recovered overnight drop. Then a dip can more likely be only temporary, or else require new distribution to signal it. Meanwhile, fresh recovery highs -- overnight, at least -- are further isolating Sun night's probe under Fri's low, and its test of the week-long channel's lower-end. All of which reinforces the attraction to its upper-end that intersects on Tuesday at 4027-4035.
Alternative : Pre-FOMC anxiousness is waiting to ambush trending. The 4014 area retraces 50% of the high's downtrending channel, which is natural resistance. Exceeding it would be bullish, especially if maintained through the close. But meanwhile, reacting from its resistance back down through the bias-up parameters can shift this morning's sentiment ahead of FOMC.
Levels : UP: 3997, 4016, 4033... DOWN: 3958, 3911, 3877.
Stock Market Opening Strategy - 10:58 AM
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Visualize. Identify. Do It.
Previously : A blip-up to 3998 settled back under intraday highs to 3985 by midnight. Europe's opens launched an actual upleg that formed a couple of Ascending Triangles along the way through both bias-up parameters.
New price points : Extending pre-open to 4021 surged immediately to 4028 and then immediately reacted down. Interim support at 4018 launched a probe above 4031 that was reversed down more substantially to 4007.
Catalysts : Pre-FOMC anxiousness.
Setups/Patterns : BIAS-UP RENEWED... Bear Flag.
Their influences : The 4008 bias-up target is acting as support... Invalidating the week-old continuation pattern relies on recovering at least 3997-4000 prior highs (done), and uptrending resistance that coincides Tue at 4027-4035 (the open's highs). Sun night's test of the pattern's uptrending support is so far isolated back above Fri's 3933 lows.
Triggers/Tactics : Gapping up through 3997-4000 prior highs finally formally neutralized Sun night's Already recovered overnight drop. Dipping now is more likely only temporary, unless launched from a new distribution pattern. And fresh recovery highs -- overnight AND intraday -- isolate Sun night's probe under Fri's low, and its test of the week-long channel's lower-end. Now the channel's upper-end is being tested into 4027-4035, where pre-FOMC anxiousness ambushed the trending. Its influence makes extending any higher today difficult.
Alternative : Retesting the morning's highs would target 4035.
Levels : UP: 3997, 4016, 4033... DOWN: 3958, 3911, 3877.
Tonight's Day Trading Bias Levels - 11:59 AM
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BIAS-UP will trigger above 4015, targeting 4027.
BIAS-DOWN will trigger under 3999, targeting 3984.
NO-BIAS if still between both signals.
Mid-Day Update - 1:52 PM
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Closing Wrap is at 3:45 ET / References / Bias levels / vidi ROOM
Visualize. Identify. Do It.
Previously : A blip-up to 3998 settled back under intraday highs to 3985 by midnight. Europe's opens launched an actual upleg that formed a couple of Ascending Triangles along the way through both bias-up parameters. Extending pre-open to 4021 surged immediately to 4028 and then immediately reacted down. Interim support at 4018 launched a probe above 4031 that was reversed down more substantially to 4007.
New price points : Ranging back up to 4021 eventually probed lower to 4014, and now a bounce is retesting 4021.
Catalysts : Pre-FOMC anxiousness.
Setups/Patterns : BIAS-UP... Bear Flag.
Their influences : The 4008 bias-up target is acting as support... Invalidating the week-old continuation pattern relies on recovering at least 3997-4000 prior highs (done), and uptrending resistance that coincides Tue at 4027-4035 (the open's highs). Sun night's test of the pattern's uptrending support is so far isolated back above Fri's 3933 lows.
Triggers/Tactics : Anxiousness ahead of tomorrow afternoon's FOMC events may contain price actiin for the balance of the session. Ranges can be wide but not predictable or direct. Optimism ahead of the even -- the market is looking forward to getting this one in its rear view mirror -- could keep the balance of the session ranging flat-to-higher back to the morning's highs, or higher targeting 4035.
Alternative : While the 4015 bias-up signal should define the window's low if tested, it can be probed deeper later, as pre-FOMC anxiousness retests lower prior highs at 3997-4000.
Levels : UP: 3997, 4016, 4033... DOWN: 3958, 3911, 3877.
Trading Summary - 4:32 PM
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Visualize. Identify. Do It.
Today's price points : A blip-up to 3998 settled back under intraday highs to 3985 by midnight. Europe's opens launched an actual upleg that formed a couple of Ascending Triangles along the way through both bias-up parameters. Extending pre-open to 4021 surged immediately to 4028 and then immediately reacted down. Interim support at 4018 launched a probe above 4031 that was reversed down more substantially to 4007. Noon hour firming became an afternoon rally to fresh highs at 4043.
Catalysts : Pre-FOMC anxiousness.
Setups/Patterns : Bear Flag.
Their influences : Testing the Flag's uptrending resistance, coinciding at downtrending resistance of the channel off the highs.
Premise : Anxiousness ahead of Wed afternoon's FOMC events contained the morning's trending, but its reaction never turned negative and barely probed under its bias-up signal. Noon hour firming didn't need to resolve up, but resolving up was likely to probe fresh highs. That objective was 4035, which a last-minute reaction held through the close. Extending any higher all but requires extending higher overnight.
Alternative : Anxiousness ahead of FOMC became focused on either no hike or at least putting the meeting in the rear view mirror. Neither may live up to expectations, but more defensive posturing ahead of the meeting would have room down to 4021.
Levels : UP: 4050, 4092, 4121 ... DOWN: 4021, 3998, 4081.
Tomorrow's Day Trading Strategy - 4:56 PM
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BIAS-UP will trigger above 4044, targeting 4061.
BIAS-DOWN will trigger under 4031, targeting 4015.
NO-BIAS if still between both signals.