Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Sun night gapped down to fluctuate narrowly around Fri's 4132-4135 lows. Breaking lower at midnight extended to 4106 was retraced through Mon's open up to 4132 then retested down to 4104 through the first hour. Bouncing again into the bias window lapse probed fresh post-open highs up to 4137. The balance of the session ranged flat-to-down to 4111.
Overnight price points : Bouncing through Mon's close extended to the 4135 bias-up signal. Its consolidation reversed down by midnight, then collapsed at Europe's opens to 4113. Its reaction up to 4132 is now trying to hold unchanged at 4123.
Catalysts : Earnings, no econs, Powell speaks, Biden speaks.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : Confirmed breakout, overbought RSIs.
Their influences : Wed's confirmed breakout that requires at least an eventual higher close makes the current decline a temporary pullback, as does the 4208 high's overbought RSIs that require at least a retest.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Premise : Last night's fluctuation within yesterday afternoon's range is nevertheless comprised of trending from one end of that range to the other -- and not simply of choppy noise. Rather than settle into a range, opinion is being expressed to either extreme, and the range's break is likely to extend. But unless the open were gapping up above earlier overnight highs, that ranging can persist through the morning while inhibited ahead of Powell's noon hour appearance.
Alternative : Mon's flat-to-lower ranging could persist, but it wouldn't take much effort to repeat yesterday's defensive posturing that extends the pullback to its next candidates around 4070-4080.
Levels : UP: 4166, 4231, 4263... DOWN: 4118, 4074, 4053.

CURRENTLY UPDATED CHART:

 
         Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Bouncing through Mon's close extended to the 4135 bias-up signal. Its consolidation reversed down by midnight, then collapsed at Europe's opens to 4113. Its reaction up to 4132 was retraced entirely.
New price points : Lower lows into the open overlapped the 4110 bias-down signal down to 4108. Still overlapping it post-open down to 4106 avoided triggering. And now the stalled trend is backing-and-filling up to 4122.
Catalysts : Earnings, no econs, Powell speaks, Biden speaks.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : noN-BIAS, STILLL TESTING BIAS-DOWN... Stalled trend.
Their influences : An entire timing window overlapped a relevant level without either extending or reversing, which suggests the trend will resume after a retrace finds stronger-handed sponsorship.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Triggers/Tactics : Downside weakness continued developing overnight to already discount more anxiousness ahead of Powell's noon hour appearance. That wasn't rejected in time to isolate its sponsorship, so a bounce to either 4122 or 4125 became likely for finding stronger-handed sellers to sponsor at least an obligatory probe of fresh lows -- if not also injecting last-minute optimism to refuel for a deeper reaction to 4070-4080.
Alternative : Bouncing beyond 4122-4125 to greet Powell from above the morning's 4135 bias-up signal could leverage the momentum to react up further.
Levels : UP: 4166, 4231, 4263... DOWN: 4118, 4074, 4053.

CURRENTLY UPDATED CHART:

TUE P.M. BIAS 

STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if:
BIAS-UP will trigger above 4133, targeting 4150.
BIAS-DOWN will trigger under 4117, targeting 4105.
NO-BIAS if still between both signals.