Reliable Day Trading Signals from Viditrade - 08-14-2017

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

NEW DAILY SCHEDULE First, watch the pre-open Tour recording HERE <<== Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close... Friday's open arrived after Thursday night's lows had touched the morning's 2430.75 bias-down target. The open was greeted 8 points higher, and the morning eventually extended another 8 points more to touch 2446.50. Two interim pullbacks 2436.00 low, the last one firming to close at 2440.00. Thursday's trend change signal was confirmed, but not its breakout setup. Overnight action's new info... Gapping up and spiking higher at Sunday night's open immediately found resistance at this morning's 2445.00 bias-up signal. It soon broke higher to attack the 2450.25 bias-up signal, where more resistance  was immediately found. Hovering there formed an Ascending Triangle until Europe's opens triggered a breakout. Its surge to 2455.50 has been consolidating. If, then... Proximity to the month-old gap at 2425.25 isn't helping to neutralize it. As we discussed during this weekend's Saturday Review, that was the most bullish scenario. It still is, if the decline were to resume at this morning's open, without having extended much higher before then, if any. That's often how overnight, relentless, one-way trending does resume. Otherwise, extending last night's bounce would track one of the two bearish templates we discussed -- launching the next downleg from either 2463.50 or 2471.00-2473.50.. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2452.25 would be likely also to exceed the 2450.25 bias-up target at 10:15 to renew the bias-up signal. Exceeding 2447.75 would be likely at least to trigger the 2445.00 bias-up signal. Phonetic dictation... good morning and welcome it is Monday it's time for Monday's morning market tour just to refresh a little if you weren't in attendance Saturday I hope you did have a chance to review the Saturday review where we discussed a couple of important things when is a lot of the stuff that led to last week's decline entered the week was entered that is still fluctuating around that 2472 plus or minus 24/7 X tried getting away from it failed to get away from it 24/7 exhaled for a couple days anyway and then two more days were spent in the climb there's a trend change in there that wasn't rejected on Friday so it's confirmed which says there's an eventual third lower clothes coming at least an eventual third lower close there's also a break out Thursday from a different pattern that wasn't confirmed because there was not a second consecutive lower close two different set-ups two different confirmations now obviously it doesn't matter if the if there's a third lower close by one there's a third lower closed. That least a third load of clothes that's outstanding so long as the trend change signal isn't rejected by recovering back above its trigger which is essentially 2459 the interim low 2459 can be tested the through the clothes needs to hold it can be tested up to hire pair of those right here 2463 24 there's a gap back to 71 cash session 7350 futures so room for probing and intraday but just needs to hold through a clothes and by the way need to hold two two consecutive closes in other words above the level that triggered the trend change which wasn't rejected on a second consecutive session another day to recover specific reaction characteristics and ascending triangle form there and then at Europe's opens broke out that's through the bias of Target now extending even higher to 2455 50 15 50 happens to be the renewed by would be the renewed bicep Target of the bias up Target 5025 is exceeded through 10:15 three hours from now that would put into play the renewed bias of Target had 5550 that's probably not going to be very relevant to us later but it's important to note now that patterns do identify that level has resistance so it's a single-minded or or Relentless One Way overnight trend two things about that one way Relentless overnight Trends often not always often enough to be aware of them though often are reversed at the cash session open if this one is reversed before extending much higher before it gets that bigger correction out of the way then it could extend down and could resume the decline it can take care of that Gap and still be in the process of this leg not having fulfilled or I'm shy refueled Sellers and get that bottom out of the way that's still possible it requires pretty much resuming the decline at this morning's open which is often a path that that follows a single-minded or Relentless One Way overnight rally or any trending overnight also as it happens it is often the case that greeting the new week with a with extreme sentiment often proves to be a sentiment extreme not so much counter-trend and that's what the other night bounces is its counter-trend but it is single-minded Relentless one-way trending for the purpose of the setup I just described as much as it is Extreme sentiment that's what makes it extreme sentiment and greeting and more so on Mondays or coming out of the weekend with that sentiment extreme or with extreme sentiment often proves to be a sentiment extreme make it to the open without reversing down if the open can hold up without reversing down without putting and save downtrending through the opening 15 minutes of volatility or holding up through the bicep Target some level some setup that keeps the upside momentum intact and we'll look for a higher highs will look for testing 2459 up to 2463 if not 7173 will look for that KFC open can maintain its Gap up and not put in any kind of a reversal signal there's some consequences to that down the road that won't be consequential today but that is what will be looking for today or the other this morning North Korea right but let's wait to see if they open and I'll have comments before they open if something were to develop I mean there's even a somewhat of a descending triangle forming here could be a continuation pattern that won't help the purpose of extending her this morning that's early unless it's maintained through the open alright looking at other markets so the Euro I mean it's not the highest confidence in this pattern extending a higher to get a second consecutive are closed okay but remember the issue with the euro is that it held here at lower price for an extended amount of time so little suspicious about the bounce it's coming from in ascending triangle or inverted Head and Shoulders out of the case we can give it some benefit of the doubt that it might get out to higher highs as far as how it's doing overnight it's not extending it but it hasn't rejected that the stage Looney has its own by signal at standing as well which having held 1:30 and we can look back and see that was a critical spot that we anticipated would launch a recovery on its last test it's being tested pretty aggressively on this test aggressively meaning it's left unfinished business above in this cap outstanding so back above 130 50 would Target fresh highs not getting it done but that's the only set up that we have going on in the pound and honestly has created an anchor below so stop being rejected so soon this pull-back is going to extend gold and silver overnight the lower end of the range for buyers bubbling up so not bullish on crude oil and then natural gas this is not a barrage pattern to Surge Thursday morning and then just hover here throughout the balance of Thursday and through Friday now that doesn't say that the rally extends immediately it's trying to doesn't mean it's going to do so do you still view this as a bottom ever since 1 week ago having closed above all this week ago I've enclosed of the prior high for two consecutive sessions after overnight action head retested the low not optimal that prior Friday would have been more bearish try or try at least more pessimistic but it exploded it and gave us indication at that Tuesday close that a bottom was for me and it's been on a tear since then until Friday or until after reacting to Thursdays eia report there's room for a pulled back down to 9192 if that doesn't hold then we come back to to 8182 not fun to be long that but that probably holds if that's even done if 29192 is even broken let alone test it regardless bottoming pattern alright any questions okay good luck today.

Overnight rally extends uninterrupted. When relentless, one-way overnight trending is reversed intraday, it tends to be reversed almost immediately at the open. Therefore, not immediately reversing down through the open would be bullish. And it was likely to test room for noise up to 2457.50, if not also extend to test 2463.00 and potentially 2471.00-2473.50. Which the open did. Mostly, so far. Hovering just under the 2455.50 overnight high surged to fresh highs through the open. The bullish strategy was to get long immediately and to monitor for a reversal setup at 2457.50. None developed. Indeed, 1-minute RSI diverging negatively was bullish in context of persistently overbought 3-minute RSI. Resistance at 2463.00 was attacked before 3-minute RSI left overbought. Now 2463.00 is being probed by 3 points. That doesn't ensure fulfilling potential to 2471.00-2473.50. We'll let pullback limits guide that, and the nearest now is 2464.75. Regardless, Thursday's trend change signal does have an interest in today's close being back under 2459.00.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2470.00 2468.00 ...would target  2474.75  2473.00 Bias-down: under  2462.25  2460.50 ...would target 2457.50  2455.50 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.

Narrowly sideways into and out of the noon hour. The open's rally made it to 2466.50. The bias environment exit needed to hold 2463.00 to maintain potential for extending up to 2471.00-2473.50. It was attacked to within 2 ticks, and the rally never resumed. Neither has it been rejected. Not, yet. That's not decisive enough to confirm higher targets in-play. Or, that Thursday's trend change won't attract the close back under 2459.00. At least a couple of attempts to trigger a new rally leg have failed. Meanwhile, exiting the afternoon bias environment under 2463.00 would be credible for reversing momentum down.

Sunday night's relentless, single-minded trending had paused at 2455.50 several hours before Monday's open. It resumed immediately, and peaked at 2466.50 during the morning's bias environment. Ranging narrowly back down to 2463.00 finally probed down a couple of points while the bias environment was lapsing. But only momentarily, and eventually recovered back to the range's upper-end. Ultimately, a last-minute attack on the morning's 2466.50 high was reversed by a last-second probe under 2463.00. The next higher objective at 2471.00-2473.50 was not put into play. That's not necessarily bearish. The late probe down to 2461.00 never extended to close under 2459.00, so Thursday's trend change signal is in jeopardy. It would be saved either by Tuesday's open breaking back under 2459.00, or by closing under Tuesday under Monday's 2454.00 low. Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2459.50 2467.25 ...would target 2474.50 2472.50 Bias-down: under 2461.00 2459.00 ...would target 2455.25 2453.00 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.