Reliable Day Trading Signals from Viditrade - 12-29-2015

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... My, how quickly times change. The holiday break ended yesterday by trending down Sunday night from 2052.00 to almost 2040.00. Monday's open was greeted by a bounce attacking the morning's 2047.00 bias-down signal as resistance. It was too shallow to reverse the overnight trending, but high enough to refuel sellers. The drop extended through the morning to attack 2035.00. The balance of the session trended back up to close above the morning's high, but too late and by too little to assure trending higher. Overnight action's new info... Not signaling a trend reversal doesn't prevent it. Firming to test 2051.00 and then 2052.00 retested Thursday's close. Europe's opens triggered a surge touching Thursday's 2059.75 high. Now a pullback is attacking 2055.00. If, then... Cleanly recovering yesterday morning's high through the close would have targeted the interim decline's origin, which is Thursday's high. Testing an objective not yet put it into-play can be more difficult to extend through it. Yesterday's recovery attempt didn't gain traction for its effort, so maintaining a gap up would be entirely credible for extending higher intraday. First Trade... Exiting the open at 9:45 above 2054.25 would be likely to trigger the 2050.50 bias-up signal at 10:15. Exiting the open above 2059.00 would be likely to renew the bias-up signal by also exceeding the 2056.25 bias-up target through 10:15.

Post-open surge takes the last leg up. The pre-open surge to 2063.75 tested a two-week old pivotal high that had to be exceeded if touched post-open. That was ensured by surging from the 2061.00 open to 2066.00. Eking higher has now attacked 2069.00, the two-week old actual high. The resolution to its test is less relevant at this stage. But the pattern has been to stop pessimistically short of resistance before a corrective dip launches a new upleg. A corrective dip back under 2066.00 could end at 2064.00 or 2061.50 -- still well into positive territory and above the open. Much lower would have room to the 2055.00 area, as more of the corrective dip, without reversing the trend down.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2075.00 2067.25 ...would target  2079.00  2071.25 Bias-down: under  2069.25  2061.50 ...would target 2062.75  2055.00 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.

Bias-up sets stage for yet another session surge. Not just another upleg, but another surge. There were two overnight and one at the open up to 2069.00. Backing-and-filling down to 2064.00 has resolved up to 2070.00. This afternoon's 2067.25 bias-up signal was triggered along the way. The bias-up target isn't much higher, around 2071.00. But the late break to fresh session highs suggests that sellers are being patient -- and that's strong-handed. Plunging 5-1/2 points before the noon hour is aggressive and impatient -- and weak-handed. Regardless of the potential upside, price action is still ranging around the opening surge's 2069.00 peak. Breaking free of it won't be easy, but it should be rewarded by a surge to fresh highs. Back under 2066.00 would suggest momentum is reversing down instead.

Tuesday's rally gained traction for its efforts -- the bias environment was exited above the noon hour's range, and the final hour was entered higher. The 3:10-3:20 timing window didn't have to trend higher, but tried, and failed. Reacting down helped to temper the emerging optimism before the close. If Tuesday's rally is rewarded by probing higher Wednesday morning, then it has potential up to 2091.25 and 2096.00, potentially on the way to 2102.00. A shallow opening dip would still be likely to recover and resume rallying during the afternoon. But dipping deeper than 2067.25 would start to signal momentum reversing down. Details and other markets coverage are discussed in the post-market Wrap recording here: https://roddavid10.mitel-nhwc.com/join/rkbxssb

This evening, monitor overnight Globex trading in the chaRTroom at: non-xp ilinc

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above  2082.75 2075.25 ...would target  2088.75  2081.25 Bias-down: under 2075.50  2068.00 ...would target 2069.00  2061.50 Signal status: BIAS-DOWN 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.