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: FRI 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: MON A.M. BIAS STRATEGY: A 60-90 minute bias will trigger at 10:15 ET if:Market Performance Predictions - 7:45 AM
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Previously : Wed night's Globex initially firmed to 3966 then began collapsing, eventually extending to 3930. Fluctuating around the 3935 open eventually broke higher through Thu morning to 3955, and retested Thu afternoon when a Fed speaker's headline triggered a surge that extended to 3995.
Overnight price points : A late sell signal extended through the close down to the 3974 bias-down signal Thu evening. Hovering there through midnight broke higher at Europe's opens and just attacked 4003.
Catalysts : PMI, ISM, multiple Fed speakers.
Setups/Patterns : P.M. headline reaction... Friday Factors.
Their influences : Having influenced the balance of the session, an afternoon headline's knee-jerk reaction tends to also influence the overnight and/or morning as the apparently relevant news also influences Global markets... Fri morning bias signals tend to persist through the morning.
Premise : A lot going on here, be sure to watch the PLANNER video... Further discounting yesterday's P.M. headline is creating a challenge to the month-old channel's nearby resistance, which has failed all previous tests that had also originated from a fresh pullback low. The headline's persistent influence may also be a function of its catalyst -- Fed speaker Bostic -- being scheduled to speak again at 11:45 ET. Already discounting the same comments could find no further upside reaction available, let alone the downside reaction if Bostic decides to tweak or walk-back yesterday's comments. And once again failing to close above a prior relevant resistance, especially having probed it intraday, could accelerate the ongoing decline. Even before then is the PMI/ISM one-two punch of post-open econ reports yet to offer actual data, which Bostic and today's other Fed speakers will address.
Alternative : Slow-playing the headline's reaction and the anticipation for Bostic repeating himself would help to absorb weaker sellers, all of which could be boosted by weaker PMI/ISM data.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Day Trading Post Open Signals - 11:03 AM
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Previously : A late sell signal extended through Thu's close down to the 3974 bias-down signal Thu evening. Hovering there through midnight broke higher at Europe's opens and attacked 4003.
New price points : Extending higher pre-open to the 4010 bias-up target reacted down post-open to a buy setup at 4001 per the 9:15 update. Post-open econs triggered two big swings between 4000-4017 that have resolved up to 4023.
Catalysts : PMI, ISM, multiple Fed speakers (Bostic @ 11:45).
Setups/Patterns : BIAS-UP RENEWED... Friday Factors.
Their influences : Pullbacks are likely to resolve up... Fri morning bias signals tend to persist through the morning.
Triggers/Tactics : Post-open econ reports were slow-played by retracing the 4011 pre-open high back down to 3999 where a long-entry setup awaited at 4001. Extending higher has paused pessimistically short at just under Mon's 4025 prior high. Those underlying instances of patience allow the overt optimism room to continue being productive through the bias window. Fresh highs would next target 4029. Friday Factors suggest the bias-up will remain influential beyond Bostic, so a negative knee-jerk reaction has that potential to recover.
Alternative : Rallying so much still allows a negative knee-jerk reaction a lot of room for a detour, or even just defensive posturing ahead of Bostic.
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 4029, targeting 4041.
BIAS-DOWN will trigger under 4012, targeting 3998.
NO-BIAS if still between both signals.
Mid-Day Update - 1:57 PM
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Closing Wrap is at 3:45 ET / References / Bias levels / vidi ROOM
Visualize. Identify. Do It.
Previously : A late sell signal extended through Thu's close down to the 3974 bias-down signal Thu evening. Hovering there through midnight broke higher at Europe's opens and extended higher pre-open to the 4010 bias-up target. Reacting down through the open into a buy setup at 4001 entered two big swings between 4000-4017 and resolved up to 4023.
New price points : Hovering there broke higher as the bias window began lapsing since Fri morning's bias tends to persist through the noon hour. The P.M. bias window entry was greeted at its 4141 bias-up target.
Catalysts : PMI, ISM, multiple Fed speakers.
Setups/Patterns : BIAS-UP, TARGET MET... Friday Factors.
Their influences : Fri morning bias tends to persist through the noon hour, which is now done. Exiting the bias window above the noon hours range can trigger a bullish Fri PM Drift.
Triggers/Tactics : Friday Factors kept the upward bias influential beyond this morning's econ reports and Fed speakers, reversing any negative knee-jerk reaction back up to fresh highs. That influence has lapsed, but now being well above 4019 and other prior highs keeps alive potential for drifting higher again into the close.
Alternative : Another Fed speaker is scheduled as the final hour is entered, so be aware of the potential for interfering with the uptrend.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Day Trading Market Wrap - 4:32 PM
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Today's price points : Thu's night's 3974 low was reversed up sharply as Europe's opens extended Thu's P.M. headline reaction. Friday Factors leveraged the morning's bias-up to persist through the noon hour, and the PM Drift kept momentum intact through the afternoon. The 261.8% 4053 Gap Proxy defined session highs.
Catalysts : PMI, ISM, multiple Fed speakers.
Setups/Patterns : Friday Factors.
Their influences : The morning bias persisted through the noon hour, and Fri PM Drift kept momentum intact through the afternoon.
Premise : Just returning to 4019 had all but ensured the next higher attraction in-play would be 4045, which was met at the P.M. bias window lapse. Having recovered the month-old downtrending channel's support, its resistance is often quickly met at 4077. A runaway rally would next target 4105-4112 and 4160.
Alternative : While no structural higher resistance was being tested at Fri's close, several calculable resistance levels were being met and not yet broken, including a 61.8% retracement of the 4000-4077 downtrending channel. Not already extending higher out of the weekend would likely back-and-fill to 4033.
Levels : UP: 3998, 4018, 4044... DOWN: 3935, 3911, 3874.
Tomorrow's Market Predictions - 4:56 PM
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BIAS-UP will trigger above 4058, targeting 4072.
BIAS-DOWN will trigger under 4042, targeting 4029.
NO-BIAS if still between both signals.