Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Ranging 4081-4098 through Europe's opens finally broke lower to 4061, and reacted up to greet Fri's open back at Thu's 4078 low, extending post-open o 4101. Dipping into the noon hour down to 4072 was recovered entirely, as was a shallower dip to 4082. Firming into the close tested 4104.
Overnight price points : Sliding from Fri's 4100 close had extended down to 4079 through Sun night's Super Bowl halftime. But the Chiefs turned it around for the second half, driving a recovery through the balance of the night. Fri's 4104 high is now being probed up to 4115.
Catalysts : No econs or Fed speakers, PM pre-CPI anxiousness.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : Weekend exit gap.
Their influences : Whether a reversal attempt or in the prevailing trend, the first 15's disposition of a sentiment extreme can offer immediate insight into the morning's trend.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Premise : Fri's last upleg fulfilled the morning's 4105 to avoid entering the weekend with unfinished business above, while also failing to recover the resistance of prior highs. Rallying despite the lack of upside attractions and triggers -- let alone reversing an initial overnight slide -- and maintaining Mon's gap up through the open, can forecast a morning rally.
Alternative : Already rallying to a fresh extreme overnight, we'll monitor for a further last-minute pre-open squeeze which can often signal the very weakest of weak-handed buyers have stretched the rubber band too far, just before it snaps back down sharply.
Levels : UP: 4115, 4140, 4168... DOWN: 4063, 4043, 4018.

CURRENTLY UPDATED CHART:

 
         Visualize. Identify. Do It.

VISUALIZE     [Gather the inputs of Price points, Tests, Timing]
Previously : Sliding from Fri's 4100 close down to 4079 was reversed through midnight and recovered through Europe's opens to 4115 resistance.
New price points : A pre-open dip to 4102 held Fri's lower prior highs while grinding through overnight highs. Bias-up triggered while testing its 4124 target to form a bull flag continuation pattern. Its break is extending sharply higher to 4137.
Catalysts : No econs or Fed speakers scheduled, PM pre-CPI anxiousness.

IDENTIFY     [Process the inputs into Setups, Patterns, Bias]
Setups/Patterns : BIAS-UP, TARGET MET... Weekend exit gap.
Their influences : Whether a reversal attempt or in the prevailing trend, the first 15's disposition of a sentiment extreme can offer immediate insight into the morning's trend.

DO IT     [Apply the output via Levels, Triggers, Tactics]
Triggers/Tactics : A pre-open dip from above Fri's highs enabled the post-open rally to immediately resume the overnight rally's influence, and to further suggest last week's is trying to reverse up. Extending through 4135 9now being tested) would target 4151, and then 4168 atop Thu morning's position of strength -- its renewed bias-up environment that had only retraced a gap up back down to its bias-up signal's support.
Alternative : Back under 4118 would start to suggest upside momentum was lapsing, although that could be temporary to allow for backing-and-filling.
Levels : UP: 4115, 4140, 4168... DOWN: 4063, 4043, 4018.

CURRENTLY UPDATED CHART:

MON P.M. BIAS 

STRATEGY: A 60-90 minute bias will trigger at 1:20 ET if:
BIAS-UP will trigger above 4145, targeting 4168.
BIAS-DOWN will trigger under 4130, targeting 4118.
NO-BIAS if still between both signals.