Proven Day Trading Signals from Viditrade - 08-04-2015

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2102.25
2095.50
...would target 2107.75
2101.00
Bias-down: under 2093.25
2086.50
...would target 2087.50
2080.75
Signal status: NO-BIAS FAQ INTRO VIDEOS #1 and #2 1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

Proper context can start the day with a solid win and make all the difference.

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close...
Rallying Monday depended on rallying quickly. Opening at 2098.00 just above Friday''s lows instead quickly collapsed to retest the 2093.00 overnight lows. Not only were overnight lows retested, but they were probed down to 2089.50. Recovering back up to 2098.00 was reversed even more substantially down to 2080.00. The afternoon''s consolidation formed a large triangle that broke higher to 2091.50. Potential down to 2077.00 was ignored, and the relevant 2084.00 level held on a closing basis.

Overnight action''s new info...
Sideways ranging got choppy into Europe''s opens. A dip to 2085.00 was recovered to 2093.50. That has been retraced gradually, and entirely, now probing fresh lows attacking 2084.00.

If, then...
Just putting into play yesterday''s 2088.00 bias-down target was likely also to visit 2084.00, and potentially 2077.00. Having probed 2084.00, closing back above it suggests that the decline is ending, and not just getting underway. Gapping open under 2084.00 could contradict its recovery, at least putting into play 2077.00. By the same token, confirming yesterday''s recovery by maintaining positive territory through any timing window would launch a complete retracement back up to prior highs.

First Trade...
Exiting the open at 9:45 under 2084.00 would be likely to trigger the 2086.50 bias-up signal at 10:15. Exiting the open above 2088.00 would be unlikely to trigger bias-down.

Late bias signal test reinforces its resistance.

Recovering from the fresh overnight low at 2084.25 up to 2092.00 was extended to 2093.75 through the open''s first several minutes. Its reaction down to 2088.00 was recovered entirely, but no higher before dipping back to 2090.25.

That''s a lot of swings, but its relatively narrow range doesn''t generate a lot of centrifugal force. A fresh high barely probed 1 point above 2093.75 before reacting down back down to 2091.50. The 2095.50 bias-up signal wasn''t touched in time to invoke the grace period, let alone trigger.

Another swing managed to pierce the bias-up signal by 3 ticks. Exceeding it at 10:30 would have invalidated whatever was signaled at 10:15. But it was still being overlapped. This is a no-bias environment.

So, the 2095.50 bias-up signal should define the range''s upper-end. Probing above it should be retraced, probably down to at least 2094.00 where no-bias was signaled. So long as 2093.00 isn''t broken to reverse momentum down, rallying after the bias environment lapses would still be credible.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2101.50
2094.75
...would target 2105.75
2099.25
Bias-down: under 2091.00
2084.50
...would target 2084.50
2077.75
Signal status: waiting for trigger FAQ INTRO VIDEOS #1 and #2 1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

A daily summary of high-profile members of several complexes... View a more detailed discussion of each chart at the end of today''s Market Wrap.

Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Monday''s consolidation had been supported by 1.0945 pullback limit, which was finally probed Tuesday afternoon back to Friday''s 1.0900 low. So long as 1.0930 now holds as resistance, the 1.0835 low''s retest is in-play, probably on the way to lower lows.

Gold Dec Contract (GC, ETF: (GLD))
Tuesday''s ranging was even narrower than Monday''s, both of which held above 1087.00 support, despite an overnight drop to 1080.00. The complacency is problematic to the pattern, as its timing requires a resolution to have been obvious before Tuesday''s noon hour. This delay often resolves by gapping sharply in either direction, i.e. trending sharply overnight.

Silver Sep Contract (SI, ETF: (SLV))
Monday''s dip to 14.55 support was probed overnight but recovered in time for Tuesday to remain firm. But the recovery must extend back up through 14.75 to suggest that a rally leg may be underway.

30-year Treasury Sep Contract (US, ETF: (TLT))
Gapping down slightly Tuesday didn''t extend down intraday, hovering above the rally''s 156-24 pullback limit, after Monday''s highs came within 10 ticks of the next higher attraction at 158-08.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Overnight firming was maintained into Tuesday after Monday''s lows held a test of 45.15, which is the last objective along the path targeting 44.25.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Gapping up above 2.77 quickly tested 2.82 and peaked there, weakening intraday to attack 2.77 as support. Closing Wednesday above Tuesday''s high would be credible for signaling a new rally leg underway.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2097.75
2091.00
...would target 2105.00
2098.50
Bias-down: under 2089.00
2082.50
...would target 2083.75
2077.00
Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED FAQ INTRO VIDEOS #1 and #2 1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger "noN-bias," with no bias influence.