Real Time Day Trading Signals - 05-28-2015

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...
How volatile was Wednesday''s opening 15 minutes of volatility? The gap up to 2107.00-2108.00 resistance was rejected down to 2102.50, and then recovered up 2115.75. How much buying pressure was expended intraday? The morning''s consolidation resolved up to trigger another bias-up, and its 2124.00 target was met at the session high. How relevant is that level? It filled the gap back to Friday''s close, and its last-minute reaction down fell 4 points. No unfinished business was left outstanding above.

Overnight action''s new info...
.Wednesday''s late dip eventually extend down to attack 2117.50 support ahead of Europe''s opens, while China''s stock exchange crashed. Lower lows briefly touched 2115.25 and then reacted back up to 2120.00 resistance.

If, then...
.Leaving unfinished business helps trending to persist between sessions. So, neutralizing so many upside attractions yesterday has sent the recovery searching for another self-preservation technique. One of those is to search for buyers at a lower level. Determining the success of last night''s search may be as simple as recovering and defending positive territory through the open. The reward is new highs above 2134.00, and the punishment could be to retest Tuesday''s 2096.00 lows.

First Trade...
Exiting the open at 9:45 under 2122.25 after already touching it would be unlikely to trigger the 2127.00 bias-up signal at 10:15. Exiting the open under 2116.00 would be likely to trigger the 2117.50 bias-down signal.

Post-open bounce fails to fresh lows.

The pre-open bounce from retesting the precise 2115.25 overnight low could have avoided fresh lows. But only by quickly recovering 2118.00 and extending higher.

2118.00 was recovered almost immediately, and probed up to 2120.25. Then 2118.00 was probed as support, and its recovery avoided a fresh high.

The initial surge justified ignoring sell signals. The second surge''s limit required looking at sell signals.

And a sell signal triggered quickly, probing under 2117.50. That''s the bias-down signal, and its break fell quickly to touch its 2112.00 bias-down target. Although the bias-down target held through 10:15, fresh lows have attacked 2110.00.

Despite not renewing the bias-down signal, this still is a bias-down environment which can extend lower. Meanwhile, bounces must hold tests of the 2117.50 bias-down target, but it could be probed by a couple of points.. Back above 2114.00 (being tested now) would suggest a bounce is underway.

Not already exiting the bias environment at 11:30 in recovery mode would make a probe under Tuesday''s low likely.

THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2118.75
2116.50
...would target 2124.75
2122.50
Bias-down: under 2112.25
2110.00
...would target 2106.50
2104.25
Signal status: NO-BIAS 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 Jun Contract (EC, ETF: (FXE, UUP))
Wednesday''s bounce extended grudgingly Thursday, recovering the 1.0910 bounce limit. The bounce could extend to 1.1095, but 1.0750 remains intact.

Gold Jun Contract (GC, ETF: (GLD))
Thursday''s momentary spike down to 1179.60 was recovered back into the narrow range around 1186.00. Tue-Wed stability couldn''t be confused with being stoic, and recovering back up into their range is not any more so bullish. A slightly higher bounce might stretch the rubber band before snapping back down into a new downleg, but it''s not required.

Silver Jul Contract (SI, ETF: (SLV))
Thursday''s blip-down filled an outstanding gap back before recovering back into the narrow range. No lower lows are required, but the price action is not accumulative.

30-year Treasury Jun Contract (US, ETF: (TLT))
The extended rally didn''t extend any high Thursday. But its initial reaction down didn''t extend, as the session ranged narrowly sideways. The "ineffectual pessimism" is likely to launch at least one more probe of fresh highs.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Thursday''s gap down extended a little, but ultimately ended the day testing Wednesday''s close. It was a late surge only, so it''s not necessarily bullish, but the bounce can extended a little higher and delay resuming the decline..

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Thursday already was greeted by gapping down. So, the EIA report wasn''t being greeted from a position of strength. And its reaction extended the gap down to lower lows at 2.70. A buy signal won''t be credible until Tuesday.

FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2124.75
2122.50
...would target 2130.50
2128.50
Bias-down: under 2117.00
2115.00
...would target 2112.25
2110.00
Signal status: waiting for trigger 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.