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: MON 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: TUE A.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 10:15 ET if:Market Pre-Open Plan - 7:33 AM
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Previously : Reacting down from 4034 into Thu's close quickly extended down overnight to greet the pre-open econ report at 3991 support. The headline's reaction collapsed to 3963, absorbed an opening bounce, and extended to 3948. Its reaction greeted the final hour at 3984.
Overnight price points : AN OPTIMISTIC START, ALREADY AT RESISTANCE. Sun night's Globex open immediately firmed and extended up to 3986 resistance that Fri afternoon's bounce had only attacked. Retracing Globex's open to 3975 was reversed back up into and out of Europe's opens, retracing Fri's pre-open collapse on the econ report's headline, and extending to 3998 resistance.
Catalysts : Econ reports (Durable Goods), Fed speaker(s), Russia offensive rumblings, UK Brexit deal.
Setups/Patterns : Proxy gap.
Their influences : The 38.2% and 61.8% retracements between Thu's cash session close and Fri's open are the Proxy for the actual gap. Now testing them overnight at 3986-3998, their break would put into play the 4019 actual close.
Premise : Fri's Island-like pattern is vulnerable to reversing straight up. This overnight attempt is credible for extending. Exceeding one or both ends of the 3986-3998 Proxy gap range through 9:45 would target 4019.
Alternative : Exiting the open back under the 3986 38.2% Proxy gap would suggest overnight strength was being isolated, and also be unlikely to trigger bias-up.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Day Trading Post Open Bias Levels - 10:57 AM
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Previously : Sun night's open immediately firmed and extended up to 3986 resistance, then retraced Globex's open to 3975. Reversing back up into Europe's opens extended to retrace Fri's pre-open econ report headline reaction up to 3998 resistance.
New price points : Durable Goods reacted up to 4015 initially, and corrected through Mon's open down to 4002 support where RSI setups guided long-entry. Reacting up to 4025 hovered there before reversing back down sharply through its sell signal to 3997-3998 support.
Catalysts : Econ reports, Fed speaker(s), Russia offensive rumblings, UK Brexit deal.
Setups/Patterns : RENEWED BIAS-UP.
Their influences : The renewed bias window will often be supported at the bias-up target, although there's further room below to the bias-up signal without requiring any retrace.
Triggers/Tactics : Fri's Island-like pattern was vulnerable to reversing straight up, and exceeding the 3986-3998 Proxy gap targeted Thu's 4019 cash session close. Its test represents the entirety of its structure including 4028. Exiting the bias window above 4019 would put into play the next higher attraction at Tue's 4045 gap open.
Alternative : Holding the 4019 gap-fill and yet another test of the prior channel's downtrending resistance could still return into Fri's range, or lower.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Tonight's Stock Market Trading Strategy - 11:59 AM
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BIAS-UP will trigger above 3999, targeting 4014.
BIAS-DOWN will trigger under 3986, targeting 3970.
NO-BIAS if still between both signals.
Stock Market Mid-Day Update - 2:07 PM
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Closing Wrap is at 3:45 ET / References / Bias levels / vidi ROOM
Visualize. Identify. Do It.
Previously : Sun night's open quickly tested 3986 and then retraced the 3975 Globex open. Reversing back up into Europe's opens extended to 3998 where the Durable Goods headline reacted up to 4015. Retracing to 4002 through Mon's open reversed back up to 4025, then began falling.
New price points : The bias-up window's fall extended as deeply as allowed while holding the 3986 bias-up signal. Firming through the noon hour to 4003 narrowly avoided triggering bias-up. Now that dip is also reacting up, probing 4005.
Catalysts : Econ reports, Fed speaker(s), Russia offensive rumblings, UK Brexit deal.
Setups/Patterns : noN-BIAS, TESTED BIAS-UP.
Their influences : The 3999 bias-up signal need not hold as resistance, and its 4014 bias-up target is not in-play. Meanwhile, a dip would not necessarily be limited to 3986.
Triggers/Tactics : Although unable to maintain the morning's brief probe above Thu's 4019 gap and the recent channel's downtrending resistance, its reaction down did not gain traction. Instead the window's support held, and now the afternoon has avoided triggering bias-down. Session highs don't require a retest, but it is likelier than ranging sideways at this stage if sellers are weak-handed.
Alternative : Entering the final hour back at or under 3986-3990 would open the door to trending down into Tue's open.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Day Trading Market Wrap - 4:32 PM
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Today's price points : Sun night's open quickly tested 3986 and then retraced the 3975 Globex open. Reversing back up into Europe's opens was assisted by the Durable Goods headline that reacted up to 4015, then higher through Mon's open to 4025. Reversing down to 3986 was recovered temporarily up to 4006, before a temporary dip probed Fri's range down to 3978.
Catalysts : Econ reports, Fed speaker(s), Russia offensive rumblings, UK Brexit deal.
Setups/Patterns : None active.
Their influences : - .
Premise : Sun night's rally and Mon's opening follow-through chipped away at resistance, albeit resistance that held. But spending the balance of the session in decline only baked-and-filled, exclusively in positive territory. That's a lot of selling pressure to expend without sellers gaining traction for their effort. Any initial strength Tue would be credible for extending sharply higher -- back through 4019-4028 to last Tue's 4045 gap down.
Alternative : Not yet rallying out of Tue's open would be vulnerable to extending Mon's backing-and-filling deeper into Fri's range, if not also launching a new downleg.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Tomorrow's Day Trading Predictions - 4:56 PM
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BIAS-UP will trigger above 3997, targeting 4013.
BIAS-DOWN will trigger under 3980, targeting 3968.
NO-BIAS if still between both signals.