Stock Market Trade Signals from Viditrade - 03-09-2015

MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2075.50
2074.00
...would target 2080.75
2079.25
Bias-down: under 2067.25
2065.75
...would target 2061.50
2060.00
Signal status: noN-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.

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

Enter the Chartroom here (pre-open Market Tour begins at 8:55 ET)

Through the prior close...
Friday''s gap down on the pre-open payrolls report had fulfilled the morning''s 2088.00 bias-down target. But its 2095.50 bias-down signal never recovered. The first hour''s ranging gave way through the morning to test 2079.25 support. And that gave way through the afternoon to fulfill the day''s 2066.00 target. The cash session close firmed to 2069.00, and futures drifted nearly 3 points higher.

Overnight action''s new info...
Initial strength was soon retraced, and then extended, so far all the way back down to touch 2066.00.

If, then...
Fulfilling selling pressure so near the close prevents counter-trend sponsorship from gaining traction. That all but ensures probing lower lows, unless the open were to gap up sufficiently. Having held the target through one close, probing lower intraday would be vulnerable to recover. 

First Trade...
Exiting the open at 9:45 above 2076.50 would be likely also to trigger the 2074.00 bias-up signal 30 minutes later at 10:15. Exiting the open under 2070.00 would be unlikely to trigger bias-up. Exiting the open under 2064.25 would be likely to trigger the 2065.75 bias-down signal.

A pre-open surge back to the open''s highs greeted the cash session by touching this morning''s 2074.00 bias-up signal. Its reaction down to 2070.50 forms the lower-end of flat-to-higher ranging since the open. Now 2076.25 is being retested by 1 point.

Flat-to-higher ranging lacks momentum. Unfortunately, bias doesn''t compensate for that deficiency, as it triggered noN-bias.  The bias-up signal was overlapped at 10:15 to invoke the grace period. It was still being overlapped at 10:30 to avoid triggering altogether.

A noN-bias environment is not bias-up with the bias-up target in-play, and it''s not no-bias requiring an offsetting test of the bias-down signal. A buy signal can be credible, and could still test the 2079.25 bias-up target, or even probe it up to 2086.50.

But keep in mind the shaky base where any rally is originating. Even the most impressive productivity this morning will remain vulnerable to reversing down sharply this afternoon.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2079.50
2078.00
...would target 2085.00
2083.50
Bias-down: under 2070.50
2069.00
...would target 2065.25
2063.75
Signal status: noN-BIAS, TESTED 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 Mar Contract (EC, ETF: (FXE))
Initial strength Sunday night was neutralized to range sideways Monday. There is no requirement to trend any lower, but the lack of volatility after Friday''s plunge does suggest the next leg will begin abruptly.

Gold Apr Contract (GC, ETF: (GLD))
Sunday night''s bounce produced a gap up Monday to test 1174.00 resistance, but that melted away throughout the session to almost fill the gap back to Friday''s close. Closing above 1177.00 would signal a new upleg underway, but fresh lows otherwise remain likely.

Silver May Contract (SI, ETF: (SLV))
Neither of the overnight fluctuations into negative or positive territory was detectable Monday. Its post-open price action ranged narrowly, not extending Friday''s deep decline, but certainly not rejecting it.

30-year Treasury Jun Contract (US, ETF: (TLT))
Bounce potential to 156-28 was fulfilled at Monday''s high as part of sideways ranging from the open''s gap up. And it was not rejected to reverse momentum back down. Friday extremes tend to be retested, so at least filling the gap back to its 155-20 close is likely.

Crude Oil Apr Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Despite extending lower to test 49.00, Friday''s close under 50.00 was retraced Monday. Without confirming the break, now a close under 49.00 is needed to confirm a retest of the lows under 44.00 is underway.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Upward momentum was lacking from testing the 2.77 buy signal without closing above it, and then testing the 2.84 confirmation without closing above it. Friday''s dip to attack 2.77 could have neutralized that, had 2.84 been recovered Monday. But the open gapped down to fill the low''s gap back to 2.71. The gap was probed instead of recovering, so a recovery requires triggering a new buy signal back above 2.77.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2082.50
2081.00
...would target 2088.00
2086.50
Bias-down: under 2074.75
2073.25
...would target 2067.25
2065.75
Signal status: waiting for trigger 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.