Reliable Day Trading Signals from Viditrade - 07-20-2015

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 open trended down throughout, but remained within the range. The setup''s bearish influence produced only a momentary lower low -- touching the morning''s 2112.75 bias-down signal -- and kept the market hovering at its lows until late-afternoon. The bullish WedEX influenced the final two hours to trend up to fresh highs, which peaked upon fulfilling the offsetting test of the morning''s 2119.75 bias-up signal.

Overnight action''s new info...
Sunday night''s flat open soon began probing higher, extending so far to 2122.75 and consolidating above Friday''s highs. This is against the backdrop of China''s market facing renewed difficulties, and a "flash crash" in Gold.

If, then...
Having influenced Friday afternoon, the bullish WedEX should also influence Monday morning. The signal is beyond being inverted, and can only succeed or fail. Its influence this morning can be more obvious than it was Friday afternoon, i.e. steeper and more productive.

First Trade...
Exiting the open at 9:45 above 2123.75 would be likely also to trigger the 2121.75 bias-up signal at 10:15. Exiting the open under 2114.75 would be unlikely to trigger bias-up.

Opening dip avoids recovering in time to re-establish momentum.

The bullish WedEX indicator triggered not at Wednesday''s close, but by proxy at Thursday''s gap up. Triggering late made it less reliable. But that became moot when it influenced Friday afternoon.

So, it''s influential this morning, too. That doesn''t prevent dipping, but it does make the dip''s recovery likely. In fact, holding a test of the 2121.75 bias-up signal has put into play an offsetting test of the 2113.75 bias-down signal. So, that test is likely to recover.

Just by gapping up there was extra room created to absorb post-open selling pressure. Gapping up at all at this stage is not bearish, and suggests that any reaction down will ultimately recover. The bullish WedEX might not be very productive, but its upward bias should ultimately overcome any pessimistic price action.

Of course, rallying strongly was likely this morning, which isn''t (yet) happening. Until the pre-10:15 2116.50 low is broken, exiting the bias environment at 11:30 above its 2121.75 bias-up signal would invalidate the lower objective... and reinstate the rally to new highs.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2130.25
2123.25
...would target 2135.25
2128.25
Bias-down: under 2125.00
2118.00
...would target 2120.00
2113.00
Signal status: BIAS-UP 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))
No unfinished business below is outstanding, so closing back above 1.0910 after Monday''s ongoing test of 1.0855 support would signal at least a corrective rally underway.

Gold Aug Contract (GC, ETF: (GLD))
Sunday night''s "flash crash" down to 1080.00 allowed room for a corrective bounce up to 1118.00-1122.00 before retesting the spike''s low down to 1076.50. Closing above the bounce limit''s upper-end woul suggest a bigger bounce underway. Meanwhile, touching the bounce limit''s lower-end already reacted down to attack 1100.00, which is probably obligatory support. Just closing under 1103.00 would signal the low''s retest underway.

Silver Sep Contract (SI, ETF: (SLV))
Participating with Gold''s "flash crash" more in spirit than in substance was obvious by Monday''s reversal from testing 14.50 overnight, back into positive territory attacking 15.00. But that doesn''t prevent probing lower lows anyway, or at least remaining under pressure. The next lower support to be tested is now 14.40-14.45.

30-year Treasury Sep Contract (US, ETF: (TLT))
Sunday night''s initial probe up to 152-16 was reversed to the 151-14 pullback limit. It resolved up Monday to hover pessimistically short of Friday''s 152-07 close, seemingly waiting to resume the rally.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Despite holding Friday''s test of the prior week''s lows, Sunday night did not recover, and Monday extended down under $50 toward its 48.00 target.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Gapping open Monday under the 2.83 pullback limit only attacked its room down to 2.77 before recovering back to Friday''s 2.87 close. Its reaction down was still testing the 2.83 pullback limit as support.