Reliable Day Trading Signals from Viditrade - 05-18-2015

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...
Friday''s 2122.75 pre-open high during Globex was not complex, so it was not a "new Globex trend extreme" that required intraday retest. Sellers tried to exploit it, but the morning''s reaction down to 2113.00 held repeated tests of Thursday afternoon''s 2115.00 prior low. The bullish WedEX presumably became operational as the afternoon rallied back up to 2119.50.

Overnight action''s new info...
Sunday night''s open blipped-up to touch 2120.75 before reversing back down to attack 2115.00. Europe''s opens were accompanied by a dive to 2112.25. Despite recovering back to 2120.00, renewed weakness is attacking the low.

If, then...
Regardless of the opening print, the bullish WedEX makes Monday morning''s bias vulnerable to trending up. It was a late signal, and its influence Friday afternoon is only assumed, so its continued credibility depends upon exiting the open appropriately. Regardless of this morning''s resolution, sellers are still considered the weaker hands, since each lower high reflects pessimism that isn''t gaining traction.

First Trade...
Exiting the open at 9:45 under 2115.00 would be likely at least to test the 2111.75 bias-down signal. Exiting the open above 2119.75 would be likely at least to test the 2123.25 bias-up signal. No preliminary level is currently identifiable that would be any likelier to trigger either signal

Opening surge underscores a bullish WedEX.

The pre-market Tour''s setups didn''t entertain a sell signal. Even the only buy signal was required to be aggressive. Generally, staying away from 2115.00 and getting away from it aggressively would be appropriate for rallying out of the overnight dip.

Rallying out of the overnight dip is important for the bullish WedEX influence to remain credible. So, firming to 2116.00 steepened into the open, trending back to Sunday night''s 2120.75 high.

Its reaction down was likely to recover so long as 2116.75 held. It was attacked to within 1 tick, and now 2120.75 is being attacked to within 1 tick, too.

All of which is developing at or under unchanged. And this is a no-bias environment. With optimism still restrained, sell signals might not be contemplated this morning, at all. Not from above 2116.75, or without already probing egregiously above the 2123.25 bias-up signal.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2128.00
2124.50
...would target 2133.25
2130.00
Bias-down: under 2120.00
2116.75
...would target 2115.25
2111.75
Signal status: NOn-BIAS, BIAS-UP SIGNAL 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))
Friday''s 1.1328-1.1472 outside day that began by gapping down to the lower-end of Thursday''s 1.1348-1.1457 range was still considered bearish, since the close was still overlapping Thursday''s high. And still overlapping Thursday''s high meant that gapping down Monday doesn''t require filling the gap back to Friday''s high. In fact, Monday''s session trended down intraday, probing under Thursday and Friday''s ranges to test 1.1300. Almost any lower close Tuesday would confirm Monday''s reversal was extending.

Gold Jun Contract (GC, ETF: (GLD))
Sunday night''s high touched the 1232.00 target, but wasn''t touched intraday as Monday''s session fluctuated narrowly around last week''s 1227.70 high. There is no unfinished business above, but upward momentum remains intact so long as 1224.00 now holds as support.

Silver Jul Contract (SI, ETF: (SLV))
Monday''s opening surge to fresh highs testing 17.75 consolidated in positive territory throughout the day, closing above prior highs, keeping upward momentum intact.

30-year Treasury Jun Contract (US, ETF: (TLT))
Friday''s nearly 3-point rally to 155-20/155-27 didn''t comport to the template we were tracking, but Monday''s substantial retracement did. Stopping optimistically short at the upper-end of Thursday''s range now requires bounces to hold 154-08/154-12 to maintain Monday''s downward momentum. The 150-25 target remains intact, preferably confirmed by closing Tuesday under Thursday''s 152-12 low.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
[Rolling coverage forward from Jun to Jul, 1.65 premium] Suday''s initial firming tried again to rally out of the 60.30 pullback limit, but its surge to 61.70 was retraced to 59.85 -- not quite reversing down, but requiring an almost immediate recovery above 60.75-61.00 to avoid a new downleg.

Natural Gas Jun Contract (NG, ETF: (UNG, UNL))
No higher objectives are outstanding, but Monday''s narrow sideways ranging didn''t reject the uptrend''s momentum..

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2130.50
2127.25
...would target 2135.50
2132.25
Bias-down: under 2122.50
2119.25
...would target 2117.50
2114.25
Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL 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.