Stock Market Trade Signals from Viditrade - 06-16-2015

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...
Greece news triggered Sunday night''s gap down, and extended it through Monday''s open to eventually touch 2062.75. Firming 8 points into late-morning to test the 2071.00 open, and then surged 8 points more to test 2078.25. The balance of the session ranged sideways, supported by 2072.50.

Overnight action''s new info...
Flat-to-lower ranging crept back down to 2072.50 and then ranged narrowly around it. Its break came suddenly one hour before Europe''s opens, which were greeted at 2067.00. The break extended until one hour after Europe''s opens, piercing Monday''s low down to 2062.00. That extra dip was recovered, and and now more so, as 2071.00 is being tested.

If, then...
Sellers didn''t gain traction for yesterday''s efforts, so gapping down today is the only way to resume the decline. Gapping down would be defined by yesterday morning''s last relative low at 2068.00. Holding its support through the open and THEN declining is possible, but likely to be recovered. Meanwhile, holding its support through the open is likelier simply to rally back to yesterday''s 2078.25 highs. Having bounced already from an overnight slide, the bigger question right now is whether the bounce is rejecting that slide, or refueling it for a much deeper decline. Regardless of any unfinished business above, the decline is capable of resuming, aggressively.

First Trade...
Exiting the open at 9:45 above 2071.00 would be unlikely to trigger the 2068.00 bias-down signal at 10:15. Exiting the open under 2065.25 would be likely to trigger bias-down. Exiting the open under 2062.00 would start becoming likelier also to exceed the 2060.75 bias-down target through 10:15 to renew the bias-down signal, next targeting 2052.00.

Daylight leaves no traces of the overnight dip.

Like cockroaches scurrying back under the refrigerator when flicking on the kitchen light, S&Ps surged 10 points into and out of Tuesday''s open. No trace remained of the 10-point overnight drop under yesterday afternoon''s 2072.50 low.

The offsetting action suggests the scenario discussed during the pre-market Tour, that the pre-open recovery was an accelerated version of yesterday morning''s recovery. Even the reversal''s symmetry correlated.

None of which assures rallying out of here. In fact, the 2080.00 bias-up signal held its test through 10:15 to trigger no-bias. An offsetting test of the 2068.00 bias-down signal is in-play.

I''m suspicious of this morning bias signal. Exiting the opening 15 minutes of volatility above yesterday''s 2078.25 highs had all but marginalized sellers.

The reaction down hasn''t extended since touching 2073.75 before 10:15. Avoiding a fresh low under 2073.75 would allow the no-bias to be invalidated by exiting the bias environment at 11:30 above 2080.00.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2093.75
2085.00
...would target 2099.50
2090.75
Bias-down: under 2085.75
2076.00
...would target 2079.00
2070.25
Signal status: LATE 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 Jun Contract (EC, ETF: (FXE, UUP))
Gapping down only slightly Tuesday amid more progress toward Grexit continued to suggest that any detrimental effect was still not in-play near-term, and that the eventual third higher close remains intact.

Gold Jun Contract (GC, ETF: (GLD))
Dipping at Tuesday''s open allo the way down to 1175.50 helped to confirm somewhat that the bounce through Monday afternoon had expended any remaining buying pressure before finally resuming the decline next targeting 1158.50.

Silver Jul Contract (SI, ETF: (SLV))
After failing to maintain Monday''s probe back up into the 16.15-16.35 range, Tuesday''s open gapped down to attack recent lows, supported by 15.85-15.90.

30-year Treasury Jun Contract (US, ETF: (TLT))
Bouncing overnight and testing 151-22 Tuesday morning was still likely only noise while consolidating or backing-and-filling before Wednesday or Thursday. Retracing most of the open''s rally back down to 150-15 helped to confirm, albeit still reflecting a little more optimism than would be optimal at this stage for a durable rally.

Crude Oil Jul Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Testing 60.30 Monday night was already reacting down into Tuesday''s open, and essentially held 59.75 through the day.. Closing above 60.80 would signal another rally attempt underway.

Natural Gas Jul Contract (NG, ETF: (UNG, UNL))
Extending higher Tuesday would have confirmed Monday''s close reversed the multi-session pullback.But the inside day only avoided retracing under the 2.83 pullback limit, to keep alive the upward momentum.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2099.50
2090.75
...would target 2105.00
2096.50
Bias-down: under 2090.50
2082.00
...would target 2085.50
2076.75
Signal status: BIAS-UP 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.