The First Trade

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Wednesday’s open gapped up above Tuesday afternoon’s 2427.50 high. Probing under Tuesday’s lows down to 2413.50 was isolated to the overnight. The combination produced a session-long rally to 2440.50 in which every timing window probed a prior high except for the last. The close exceeded 2435.50 higher prior lows and was still testing its 2438.00 room for noise.

Overnight action’s new info…
Although Wednesday’s last timing window had ranged sideways, the rally resumed immediately at the Globex open. And then it immediately stopped. First surging 6-1/2 points up to 2444.50, a narrow 2-point range developed until Europe’s opens triggered a blip-up. Its reaction down extended to 2439.00 where a brief consolidation has resolved up sharply to test 2443.00.

If, then…
Session-long rallies are likely to extend higher the following morning. Exceptions require either gapping down, or else already probing higher highs overnight. Last night fulfilled the latter condition of already probing higher highs. But that can be repeated intraday so long as momentum hasn’t reversed down at the open. The dip to 2439.00 was a close-call, and its retest would likely fail — not necessarily for the session, but to shift sentiment this morning down to 2431.50.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2445.00 would be likely to trigger the 2443.50 bias-up signal at 10:15. Exiting the open under 2440.75 would be unlikely to trigger bias-down.

Phonetic dictation…
good morning welcome it is Thursday’s time for Thursday’s morning market tour and don’t forget yesterday was a pretty impressive day gapped up get them none of the entirety of the bias environment Prep students by his environment range but above least structurally a last relative High extended eventually through that crap advice environment I threw that prior mornings High to not an axillary prior session Mondays by Zimmerman high but through this congestion which doesn’t really stand alone never lasts it has a singular representation of 3550 it’s higher priorities and other words it’s all so essentially the Lowe’s Monday was Friday’s Cat session close made it through all that closed above all that so long as the open isn’t basically gapping down under it today yesterday’s what turned out to be a session on rally will extend higher this morning actually the opportunity to close under 30 back under 3550 was yesterday so today by proxy the open would need to reject 3150 back under 3150 10 day kind of selling pressure coming in there could have been indicated just buy closing under 35 yesterday and this last night after the last time until yesterday range sideways every time ago but one had prior timing Windows High that’s a characteristic of a long really was not until but it did confirm a break out yesterday the Europe extending higher actually pretty significantly higher relevantly higher testing for 11470 which is the next higher objective it has a confirmed break out as well looking for a third of ventral third I are close silver and gold both had bounced into some bigger resistance points retracement points even if we knew the hundred percent degree of certainty they were going to extend higher they’re actually testing some resistance that needs or as deserving of a reaction down correction if gold were the closer to 1240 650 it probably isn’t just a correction probably is not just a correction Long Pond continuing this huge sell off it had tested the minimum objective of the second consecutive down yesterday had the decline extended yesterday its minimum objective was 150 for 16 the leg has potential to test 153 28th so while yesterday’s overnight leg and tested 154 16 that was never tested intraday wasn’t rejected we didn’t expect momentum to reverse up and now the decline is resumed or extended to 15320 pretty big drop overnight over point so point of corner so this area is being tested now closing back above 150 for 16 would indicate that the bottom was in or at least that otherwise not so much firmer overnight as testing yesterday’s highs but it it’s a confirm break out and eventual third higher clothes at least a third hour of clothes is required at some point that doesn’t mean it has to be today and doesn’t protect against an immediate reaction down just tells us that the reaction down or recover but it does tell us at today’s report is being created from a position of strength I get down to the news and then reaction but we just .

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Triggering Tuesday morning’s 2433.00 bias-down signal didn’t prevent optimism from producing a bounce to 2437.00 into the noon hour. But it prevented the bounce from extending higher longer. And it obligated the decline’s resumption to compensate for the delay. Which was fulfilled by the afternoon’s slide down to 2416.50. Even that still reflected optimism, as that only touched a 1-1/2 week old prior low before bouncing.

Overnight action’s new info…
Is optimism alive and well? Yesterday’s 2417.00 cash session close has been probed a couple of time, but only briefly and relatively shallowly. Lower lows attacked 2415.00 but mostly recovered to greet Europe’s opens 2 ticks short of yesterday’s 2420.50 futures close. Reacting down to probe another lower low piercing 2414.00 was recovered again — this time to 2424.00.

If, then…
Thorough corrections end in pessimism, as no one who hasn’t yet sold can be convinced to sell. Rampant optimism may be enabling the decline from last Monday’s high to persist. Filling gaps without reversing up defined four days last week. Monday’s gap up was a false breakout from a multi-session range. Yesterday morning’s ill-fated bounce scoffed at a triggered bias-down signal, and the eventual reversal barely touched a prior low. And now brief bouts of overnight weakness are quickly attracting buyers. Perhaps too quickly. Enough optimism that produces a gap up above yesterday’s last relative high would have to be respected, but until then doubted. The most bullish scenario today would at least probe overnight lows aggressively.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2425.25 would be likely to trigger the 2422.50 bias-up signal at 10:15. Exiting the open under 2419.00 would be unlikely to trigger bias-up.

Phonetic dictation…
good morning good morning and welcome it’s Wednesday it’s time for Wednesday’s morning market tour today’s theme is optimism and it’s not actually today’s theme we’re just going to make it today is thing it’s been the same I think we can ascribe a little bit of that to last Monday which gapped up above prioritize or at least two and through prior Highs but then extended through prioritize end of the afternoon usually in that set up the session High Prince during the afternoon we got 2 of them on that Monday so I have to so the face of a bias Down Still rallying yesterday morning and that optimism most ineffectual resolving down most sharply and yet even with that sharpest resolution down is not the biggest sellout that Rivals the biggest so off but in that compress time frame certainly the most substantial so we’re starting to see not necessarily more pessimism just relatively less optimism but there’s still optimism yesterday’s low lately touched the the one and a half week old low Hills back at a little bit so there it is the 15th had stopped at 2124 1650 and so did yesterday how did that bounced too well initially was Consolidated probe slightly lower overnight and bounced into Europe’s opens Pro blower again slightly lower again on the same plane so according to that not even lower think of the cost of inflation continuing down Les expressing expecting a lot of optimism probably won’t attract more optimism than it spends or leverages but still defined the morning is booked however there’s that risk than that really what it’s doing is expending optimism at the wrong time the intraday sponsorship it’s going to be needed to Shepherd price higher is it around yet they’re not responding to this so these these bottom Fishers overnight they’re getting rewarded they’re going to be putting pressure on the market on the downside just when when intraday buyers are going to be arriving in trying to do the opposite or Rally’s going to be counting on them to do the opposite so can’t yet this miss the potential for resolving down again and that’s today this morning 2420 5024 2250 is the bias up signal it’s being tested right now it’s being influential right now if it’s triggered it’s triggered and it puts into play 24 2850 if it holds if it’s even tested Post open but if it holds as resistance ultimately at 10:15 to put Sam to play an offsetting test of the Bass Down signal and despite it already haven’t been tested overnight 2417 724 1475 it would be in play and if any of what I described already about this premature or this balance being premature if that plays out already if it’s playing on already ahead of the open bias down could even trigger and there is much lower lows out there if the market wants to get there there’s oversold are size of 24 1250 that could be tested yesterday confirm the next day on Monday break out Friday night confirmed on Monday break out again from another multi-session range the friday-monday multi-session range breaks out yesterday pretty substantial that doesn’t prevent extending higher and confirming today but being the fourth day of this sequence is Ford a sequence where the first three have done this actually makes today less likely if not actually unlikely to confirm so despite probing lower despite Pro I’m sorry propane hire that is yesterday and that probing lower overnight there’s potential for fresh high today a fresh high today in the context of a pattern that’s unlikely to close positive would be pretty interesting in the bigger picture of have potentially gapping down at the open probing of fresh Hi and then closing lower conform and pivot reversal but that’s the pattern and turn into a long way that went the other way for a while but it didn’t get anywhere back to Monday’s closed by the time we got to the open we were substantially lower that back under opening back under the prioritize wasn’t required to extend down wasn’t required to extend down substantially but open the door that said that does create a template or allow a template than does allow that and it did fulfill it buy trending down sharply okay so as of your clothes out when does do this there’s it’s just a Nuance of the bond market we don’t really see it elsewhere sometimes in currencies sometimes in the metals gold specifically big day like this comes about one of two things happens either it doesn’t that doesn’t seem like a profound statement but here’s where it is when it is down a lot it does immediately now .

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Monday’s gap up above prior highs to 2442.25 extended higher through the open to 2447.50. Two potential reversal setups were neutralized — One-way relentless overnight trending, and greeting the new week with extreme sentiment. None of which mattered this time. This setup usually extends higher through the morning and prints its session high during the afternoon. But the first hour had reversed to attack the open, and the bias environment soon plunged to 2434.00. The 2434.50-2435.50 gap back to Friday’s close provided support for a bounce to 2441.50 through the noon hour. The balance of the session retraced the bounce back down to 2435.25.

Overnight action’s new info…
A relatively shallow 3-point bounce had been retraced before starting to probe lower into Europe’s opens. Its extension down to 2430.00 was retraced up to 2436.00. But only briefly, as another dip is probing back under yesterday’s low down to 2432.00.

If, then…
Monday’s slide originated after the open, and only filled the gap back down to Friday’s close. However substantial it became, its opening context wasn’t rejected. That can still be done by the proxy of maintaining a gap down under a relevant low — like 2430.50, whose support was thoroughly chipped away last week. Retesting it overnight has so far reacted up. Extending higher to open above the earlier 2437.25 overnight high could isolate sellers and resume the rally. That might be the only way to avoid extending down to 2415.00 and potentially 2399.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2431.00 would be likely to trigger the 2433.00 bias-down signal at 10:15. Exiting the open above 2435.00 would be unlikely to trigger bias-down.

Phonetic dictation…
good morning welcome it is Tuesday it’s time for Tuesday’s Morning Market to her Tuesday’s morning Moore Couture and as promise that yesterday’s open because of the nature of yesterday’s open we were likely to have a pretty interesting day we had some pretty significant swings interesting also and the surprise of what the opening Gap up above the prior sessions highs prior session prior sessions highs despite the prior session Friday having failed to gain traction to the upside yesterday’s open did it created an anchor but that didn’t stop reversing down intraday that contact says that the sell-off is going to be retraced that context could have been invalidated by closing under some relevant level as soon as the Gap back to Fridays close was filled that became a relevant level and we didn’t close under it the bounce was largely retraced not entirely into the cash session close but it wasn’t broken through the clothes that too can be made up for compensated for by proxy so having held the test the relevant low the test the filling the Gap back to Fridays close gapping Down Under the next relevant low in this case you can see 2431 here late Friday that’s so late it’s really discounted from its significance from its predictive value you can see lower lows not just intraday there’s an overnight test as well 2428 but really all of that was testing and attacking for several days 3 days the Gap back to the prior Bright Eyes Closed 24 3050 that’s really are big Line in the Sand so if 2430 50 is broken through the open them by proxy it will be a significant as if the dip that is just as close and not held the mornings low it’s too late to just break them to the mornings low and have the same significance and consequence having failed to hold it through yesterday’s clothes it healthy as close so now there is a extra lower-level to compensate for that and that’s essentially 24 3050 the Gap back to the prior Fridays close Gap under that maintain the Gap under that extend the Gap under that same rules as yesterday that extend you can see what normally would happen and ejectors below out of the way we would just know that it’s in the context of being temporary now there’s another another bullish template hear that just looks at the overnight Slide the overnight slide came amid some high-profile news items Google gets hit with a pretty big pretty big fine Vons or up or bonds or down yielder up pretty big but we’ll look at that in a moment Euro will see this to look through the through the different other markets but that’s a pretty big break it’s a lot of marketing Royal now the big Royal roiled not really old overnight and maybe that piques into the open and that gives the overnight and opportunity to be rejected that’s the bullish template is for having balanced initially last night creating a high before midnight and then resuming the declined yesterday is prevailing decline if that overnight low can be rejected by opening back above the overnight hi back over the 37375 area which is a couple hours to get done and not a whole lot of room to recover to get it done but not a very volatile overnight session to base it on still get out of the open above 3737 25 then we can consider or start to consider the overnight decline having been rejected and the esa morning anchor being an attraction and back up to yesterday’s high which really shouldn’t be protected unless we’re heading to new highs 2454 ok and we’ll talk at the time last week yesterday week break out yesterday or I’m sorry Friday no confirmation yesterday that doesn’t prevent extending higher trying to break out again today which would set up a and that’s the pound which would set up an interesting pattern and then the Aussie which does have a confirmed break out here to the downside I’ll be at trying to reject it by gapping up Friday and extending higher yesterday extending you in a higher today he is leaving unfinished business below so other than to retest the prior hi to form a more substantial top knot bullish on the Aussie silver free open by that fat finger alleged fat finger trade fulfilled its 1625 1630 objective that entire fat finger trade is Ben retraced now with the help of overnight action gold meanwhile stop short of my 12:35 Target and has almost retraced the entire day of its alleged fed finger trade as well long bond is dipping not yesterday was a break out yesterday that’s a break out to resistance which we can call this a pullback limit yesterday’s pull back low bun 5630 basically but it’s only on a closing basis so it can be probed today and it is being probed today this is every bit of significant if not more significant of a pullback limit 156 20 so long as 15620 holds his support it’s been proved it today but so long as it holds the support having been tested recover back above 156 2628 and we’ll look for another higher high but that break out yesterday has not been confirmed it has not produced a second consecutive higher close it’ll leave a gap outstanding it’ll leave a gap outstanding that would undermine the ability to reverse down to reverse and trim down so I’m a little surprised pretty surprised if gapping down today we’re to extend down and if Gabby down today extended down if that actually reverse the trend down without ultimately recovering to retest yesterday’s clothes or higher and it wouldn’t be surprising if this overnight action reaction to drag his comments to the euro wouldn’t be surprising to the degree that says even pattern too slow with still needs this low range it still need some backing and filling natural gas extending yesterday’s rally will be rolling coverage forward on natural gas alright any questions let me know see you in the chart room before the open good luck today.

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday night’s choppiness had yet again retested the gap back down to the prior Friday’s 2430.50 gap. A little lower at the open nearly touched Wednesday’s 2428.00 low to within 1 tick. And yet again, price bounced back to the recent range’s 2438.00-2439.00 upper-end. Resistance held, having become too late for new sponsorship to break the range. The bias environment exit slid back down to 2431.00, but only as noise, still being too late in the day to break the range.

Overnight action’s new info…
Friday’s late dip had reacted up to 2437.00 into the futures close. Sunday night’s opening dip briefly probed back under 2431.00, and then reacted back up — more gradually this time, but back up to 2437.00. Europe’s opens were greeted 1 point higher, triggering a surge up to 2441.25. It was a quick surge, and has since consolidated narrowly for the past 4 hours. Now a breakout attempt has attacked 2442.00.

If, then…
Gaps can be filled only once. Repeatedly retesting the gap back to the prior Friday’s 2430.50 close has chipped away at its support. And no test has yet reacted back up to suggest support has held. Gapping up above Friday’s 2438.00-2439.00 resistance would serve by proxy to suggest support had held — gapping up, maintaining the gap up, and extending it through the open. A retest of Monday’s 2451.00 high would be targeted, including “unfinished business above” at 2454.00. Forming the setup, but not fulfilling it by maintaining it, would be as bearish as the setup could have been bullish. Quickly retracing back down to last week’s lows would be likely. Two challenges to maintaining the gap up: First, one-way relentless overnight trending is vulnerable to reversing at the open and through the morning. Second, Greeting the new week with extreme sentiment is often a sentiment extreme. If those challenges aren’t influential by 9:45, the alternative tends to be strong intraday follow-through.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2440.75 would be likely to trigger the 2438.00 bias-up signal at 10:15. Exiting the open under 2436.25 would be unlikely to trigger bias-down.

Phonetic dictation…
good morning and good morning welcome it is Monday it’s time for Monday’s morning market tour we spent the better part of last week after that is Monday’s breakout attempt at new highs the Gap up was not above all prioritized of it so didn’t require being retested intraday extended higher the session extended hire two new high that afternoon left outstanding I buy a sub targeted 2454 from that point on we spent the better part of the week first filling a gap back to the prior Wednesdays clothes then for 3 consecutive sessions testing the Gap back to Fridays cuz you really only fill a gap once after that your chipping away at it support if we were turned of this area having left it overnight confirmed back to Friday’s late bounce high and then at your UPS opens extending higher to Fresh highs now at 2441 4125 the highest level in three days if we were turned to this area of the Lowe’s or the Gap back to the prior Fridays 2430 50 close little offending support obligatory maybe but that’s it would be expected on the way down and that’s a possibility because of the setup that is trying to recover Byers gained no traction for their effort on Friday we did have this late late break lower and could have extended down it was a little late perhaps it was Friday it wasn’t going to extend higher it’s reaction up into the clothes largely retraced but just didn’t extend it was retraced overnight and then the balance resumed Friday mornings recovery for that matter has that it is trying to resume and it’s trying to resume in a way that would enable it to extend hire this morning again since buyers didn’t gain traction Friday for their efforts the only way to Rally this morning his to Gap up above the prior High that Pryor High of course is Friday size 24 38 39 area that have been tested over the last several days so by proxy that would qualify that would be valid or credible for extending hire this morning maintained and also extended through the opening 15 minutes of all time preferably that’s what it takes to maintain a gap up to be credible here’s the problem or the challenge challenge number one yes this break out for instance is false and react back down still a couple hours before the open but has bushes to setup is give at this point just short of True Grit triggering with looks pretty triggered right well timing has to come into play the set up the recovery the Gap has to be maintained and extended as I described preferably through the open if it’s not even maintained through the open it becomes as barish as it would have been bullish so it’s bullish is this could be which is to be attracted to not today for feel that one little only 54 objective outstanding above as bullish is this could be it would be very bearish for The Gap up to be rejected all of that support chipped away at 24 3050 becomes irrelevant and today rather than rallying 15 points could easily drop 15 points just as much if not more alright let’s look at other markets so the really isn’t the timing issue to reversing down having said that though it would be very narrow base so as as difficult as that would be to launch a durable recovery it could still launch a break out so the cell signal is still want me to 535 28th crude oil as impatient as this reaction down my setup was attacked with in a dime attacked with in it on Wednesday morning before we acting down to refresh low no follow-through the fresh low on the fresh loaf of the fresh low had a couple of days of basically restrained optimism maybe not so much optimism has certainly not following through the downside so at least for a bounce up to 4490 we’re backing and filling would still be needed to form a bottom to complete a bottom this by signal above 4340 is of interest it’s been probed overnight can see it’s even influential here need to actually close above it and then finally Natural Gas as of as of Wednesday is closed no lower low is required allo allo would be required to be absorbed which it was in reaction to Thursday’s eia report and at that point when it was but that a new low close or closed under any prior Lowe’s a bottom head for least needed to be sealed need to be triggered by recovering 295 it didn’t happen Friday Friday though didn’t disqualify and I think about Friday’s price action disqualify the bottoming pattern and overnight gapping up and of course.

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

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday was the “dry cleaners” day that wasn’t. Opening checkpoints had indicated a lack of sponsorship, but that didn’t prevent a mid-morning surge to the 2437.50 bias-up signal. That wasn’t likely to extend since the prior day’s buyers had not gained traction. In fact, the surge was retraced during Thursday’s final hour back down to 2430.50..

Overnight action’s new info…
Immediately firming at the Globex open extended gradually overnight. Gradually and relentlessly, until testing 2436.00 That was yesterday afternoon’s sell signal that had triggered finally as the last half-hour’s position-squaring window opened. It wasn’t any friendlier overnight. Reacting down from a touch of this morning’s 2436.75 bias-up signal plunged back to yesterday’s 2430.00 opening low, retracing the entire overnight rally.

If, then…
Trending Thursday beyond the range was likely to be down, not up. Thursday morning’s surge was not trending, as it was contained within the no-bias range. Eventually plunging back to its origin helps to confirm it attracted no new sponsorship. Last night’s rejected rally suggests the same, but won’t qualify as confirmation until actually extending yesterday’s late plunge. So, as with yesterday’s parameters, the likelier vulnerability is down, unless Friday’s open were to gap up above Thursday afternoon’s 2438.50 high. The next lower significant objective below is the 2415.00. Rallying this morning, anyway, could retest yesterday’s high up to 2441.75.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2431.25 would be unlikely to trigger this morning’s 2428.50 bias-down signal at 10:15. Exiting the open under 2425.00 would be likely to trigger bias-down. Exiting the open under 2433.00 would be unlikely to trigger the 2436.75 bias-up signal.

Phonetic dictation…
good morning and welcome it’s Friday it’s time for Friday’s morning market tour and just to refresh Where We Are how it got here a little bit of a rally Monday Sunday night rally gapped up extended through all prioritize through the open basically gave us that directional queue for the day it never got never attracted any new sponsorship any reinforcements and immediately began retracing now they were Trey Smith has neutralized downside of jective but neutralizing those that are attractions in is a neutralizing those downside attractions hasn’t resulted in bottom hasn’t been indicated that all the ballast is dumped and and the balloon can rise again The Gap back to last Wednesday’s close filled too late too late to represent strong hands and too late to retract strong handed buying pressure counter-trend pressure extended down Gap back to last Friday’s close plenty of opportunity there ultimately has has not also has not indicated that strong-headed buyers have arrived even though in this case there’s been plenty of time for it so someone simile and some differently from waiting too long to test or fill a gap there’s been so much time here filling this is on Wednesday filling the prior last Friday’s Gap so much time without attracting the sponsorship we just have a greater degree of confidence that we’re going to probe under Wednesday’s low notwithstanding or despite I should say with Thursday did yesterday the first hour ranging nearly the vulnerability to the downside the opening hour of the first hours three of the first hour is 515 minutes snap shots being stagnant indicating basically a dry cleaners morning although we did Serge to the bias up signal to the upper end of the mornings range pretty new to the ranges extreme and then rejecting that the vulnerability again being to the downside so now now with the vulnerability to the downside still what has happened anyway well overnight despite retracing the entirety of yesterday morning’s surge can see all the way on the left here and they were tracing it all the way back pretty much down to almost down to yesterday’s opening low but certainly back into the range to significant levels Relentless one-way overnight trending through Europe’s opens extending hire no real the real volatility to it just pretty reliable suddenly plunges there’s some signals being sent Central Bank signals tapering signals markets not handling it well but why should it it’s vulnerable to the downside and in fact the origin of that seemingly Relentless one way over night rally already retraced back to and through its origin its origin being yesterday’s late plunges low back to 2430 touching yesterday’s Post open low again look all the way to the left of the screen that sounds familiar because that’s kind of what happened I have yesterday’s open this is Tuesday’s there was an opportunity and that didn’t work out and now not only did that attempt you say morning not work out and overnight attempt hasn’t worked out to be really difficult to attract buyers this morning and this being a Friday with now no real window of liquidity the window look what it is is today and every minute represents an even greater more substantial share of the remaining time in the day this is not a day for generally taking on new positions or counter-trend positions and we couldn’t find it couldn’t find buyers efficient to launch a rally in the last couple days of testing this level probably needs to dig deeper and that’s probably what it’s going to do so the risk is to the downside the burden of proof is on buyers they were in position they had expended a lot of energy to get him position not having gain any traction yesterday gapping up today above us as high as would have indicated new sponsorship arrived not gapping up today means new sponsorship is not finding this level attractive having if we trended all the way up to you say Hi and then collapsed that would even be more Barrett’s but just to retraced at least 61.8% of the essays drop really getting even closer testing what in Beignets late cell signal under 36 testing and retesting it touching what is this morning’s bias up signal 3675 was touched while three minute are inside of Virgin negatively only 3 minutes I that plenty of time Wednesday basically 12730 giving it another shot of much better shot today Looney maybe this is the day we’re produces that long-awaited new I close no requirement for to be today but with Friday and a lot of topping action in their failing good opportunity gold and silver both rallying rallying basically through yesterday’s high and wow the patterns as expected did Peak before the open they didn’t reverse down they didn’t reverse down silver up to 16 basically 1675 now and if it’s going to resume the rally today needs to break back under 1670 and where’s more significantly back under 1665 still The Barrage path give up the opening Gap same thing on gold gold also rolling through yesterday’s highs testing 12 59 at Pryor High Pryor High off for obligatory resistance there’s gaps outstanding below so similar setup on gold has two silver which we didn’t really work out yesterday that didn’t succeed not in full we were tracing yesterday’s gappa which leaves a lot more on the table to be fully retraced today into the weekend both of those scenarios are the likely scenario and even if they were overwhelmingly the likelier scenario which they actually are it actually is the overwhelmingly likely that is too but for the day any clothes above 295 at this point seals a bottom basicallyany questions let me know I will see you in the chart room before the open good luck today don’t forget we’ve got a Saturday review tomorrow no Saturday review next weekend because of the holiday I’ll remind you again later take care .