Pre-market Tour

I’m aware of the issue with this morning’s Market Tour video. Audio seems to work fine, but only the cursor movement is captured and not the actual charts. I apologize for the inconvenience, and have reported the issue to Adobe.

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…
Gapping up just above Friday’s 2393.00 prior high was just enough to overcome Friday’s failure to close above Thursday’s 2396.50 prior high. Extending higher immediately, relentlessly and sharply all fulfilled the setup, which tested 2402.25 during the morning’s bias environment. The balance of the session ranged flat-to-lower down to 2397.00. Monday’s new high close was at or overlapping the 2400.00 prior intraday high. It satisfies the “unfinished  business above” which had been required since the prior trend high close had printed on a Friday. The close’s overlap gets credit since all prior intraday highs were probed Monday.

Overnight action’s new info…
Monday afternoon’s flat-to-lower ranging initially extended, touching 2396.25 before midnight. Firming from there is only now probing attacking 2401.00.

If, then…
No “unfinished  business above” means that reversing down immediately could evolve into a durable decline. It’s a vulnerability, and it’s probably coming soon. But probing more fresh highs first is likelier after Monday afternoon’s pullback despite the morning piercing a new high — presumably including 2405.00, if not also 2415.00. Gapping down under 2397.00 to “lower prior highs” might be the only way to avoid another detour first.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2403.00 would be likely to trigger the 2401.00 bias-up signal at 10:15. Exiting the open under 2397.50 would be unlikely to trigger bias-down.

There is an issue with the chaRTroom link that was in the First Trade blog post. Please CLICK HERE instead. Thank you!

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
[NOTE THE LOGIN URL HAS CHANGED]

Through the prior close…
Friday’s gap down was a small price to pay for Thursday’s recovery having stopped short of recovering a prior high. Overnight action had retraced a healthy 61.8% of Thursday’s recovery. Friday morning retested that retracement low. Neither test was able to launch an intraday rally, as the balance of the session ranged sideways. Despite overnight action having suggested Friday would resolve strongly in one direction, Thursday’s recovery was duplicated by not recovering a prior high.

Overnight action’s new info…
Trending up relentlessly had added 6 points into Europe’s opens. Double-topping there had soon retraced all of it. Plunging to the Double Top’s 261.8% extension was interrupted by a Running Correction. The pattern often retraces at least the Running Correction’s upper-quadrant, which this one is now doing, having bounced up to 2392.00.

If, then…
Failing to recover a prior high does leave the following session vulnerable to downside. However much and for however long depends on other factors — Friday could have fallen into a deeper hole, and so could Monday. That downside vulnerability from one session’s close can become irrelevant by the next session’s open gapping up above a prior high, and extending. That’s at least 2393.00 from Thursday which was probed overnight, and preferably 2396.50 from Wednesday which was not probed. Not even close. Extending higher anyway would target a retest of last Sunday night’s 2403.00 high by 2 points, and higher. At least one more new high close remains outstanding as “unfinished business above.” But breaking back under Friday’s 2384.25 lows would target 2375.00 and lower.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above2392.00 would be likely to trigger the 2390.75 bias-up signal at 10:51. Exiting the open under 2388.00 would be unlikely to trigger bias-up.

Phonetic dictation…
good morning and welcome it is Monday getting a little late start will Adobe software matter issue soon as I’ve been resolved hey wait there maybe there’s a new login for the chart room for the daily chart room noticed that it changes randomly and also that the layout maybe a little different if it is if you notice anything please let me know it’s not supposed to be let me know quickly because Friday and that is Thursday which gap down pretty substantial Trend in the morning or even before the I had completed and it was returned back to the open but not back above a prior hi so consequence of that is buyers didn’t gain traction for their effort and didn’t have to be a problem gapping up above the prior high above any prior high on Friday would have indicated that but Friday didn’t Friday gap down again was vulnerable Really Got Away easy cuz it could have turned it down and broke and lower because again buyers hadn’t gained traction for the reference all the energy they had expended Thursday now we have the same issue it’s a different looks different because exacerbated move Thursday morning and Thursday afternoon but it’s the same thing structurally and a lot of time discussing in this instance and that is that Friday gap down and it recovered the only back to the open not above her prior so once again even in this shallow Friday salinus there’s still the bone ability to resuming their Climb Every break under Friday’s low but basically 2385 8425 was tested overnight and then retested intraday it was a 61 8 retrievement Thursday’s recovery if we break that this morning then we resume or at least x 10 to the climb to 2375 maybe 2370 however if we got then we can but there’s more reliable rejection of the downside forget the vulnerability at least and look up we’re not indicated to do that right now open above Thursday’s I-93 or even the prior High which would be helpful as well 97-90 actually 6 area we can still end up at the end is trending up will give it every benefit of the doubt your time at least for not being vulnerable to a person that will give it the benefit of the doubt they can extend our and there is a pattern play that allow that to happen but it can’t stop here and it’s that he was the overnight action last night Trend it up end of Europe’s opens double top there at least one minute all right side of her negatively and then really slick out of that plunged out of that almost a little running correction in here and then plunged out of that are relevant to this connected to 6180 extension of the double top that’s a common objective but common report if it’s tested did bounce to the upper quadrant of this running correction and now the markets making a decision either it extends that it which case it’s minimum objective is the origin of the plan which is 9450 which is back above Thursday’s has which is then likely to extend Tire so above 92 pre-open really I’ll explain why the moment could Target resuming the new highs 2405 Exedra otherwise if this bounce holds the quadrant supper and are the upper quadrant that is running correction probably know that because it starts breaking back under 2390 or lower then it’s just it’s as if it didn’t happen or doesn’t matter that it happened overnight instead were back to the effects of not like Thursday and Friday but the vulnerability of it gets very much and play all right so why is it that has to happen before the open preferably not the open because there’s too much room to cover too much ground to make up for from too low if it’s not yet happening until the open and the open remember it in 15 minutes about sylheti is when the overnight at action influences the intraday or where the influences from overnight like an overnight pattern like this can be influential in today so if it’s not already happening to the 15 minutes we’re not really if not even be open it’s because the phone ability to the downside is extending its 9:20 by signal that was triggered on Friday it’s been to 109 that’s all right has been to 990 so that’s the objective may not even get a chance to confirm or if it does not didn’t do any damage to the Chart but now pound as well and then they are on the Earth right now influence and I 152 you can see the weakness little bit overnight camping down but really ask to break under 329 3:30 to Signal momentum forcing them all right here and if there’s any questions I will see you in the chart room before the open okay everyone 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…
Wednesday night’s reaction down from satisfying 2397.00 had extended pre-open to touch 2388.00. Bouncing into and out of the open soon failed and resumed sliding, more steeply and more substantially to 2379.00. RSIs diverging positively at 10:30 exploited a renewed bias-down target having been met already. Exiting the bias environment testing 2386.00 was extended through the afternoon to retest the morning’s 2391.75 bias-down signal as resistance. Probing it by 6 ticks failed to close above it as the balance of the session ranged sideways .

Overnight action’s new info…
Deja vu all over again, as Wednesday night’s pattern is being duplicated by a single-minded one-way relentless decline. It also shares the similarity of being contained within yesterday’s range. So far. One slight difference is that last night’s 2384.25 low is trying to hold the 61.8% retracement from the prior morning’s lows, while Wednesday night’s dip was a little further along by now. And now a bounce is testing 2387.50.

If, then…
Welcome to day-5 of awaiting a retest of Sunday night’s 2403.00 high, at least up to 2405.00 and probably up to 2415.00. Okay, yesterday can’t be characterized as “hovering.” It did recover to close back in the prior range above its lows — but above only them, and not above a prior high. That was a shortfall of Wednesday’s intraday recovery, too. But the high’s retest and probe remaining likely near-term so long as Friday’s open isn’t rejecting Thursday’s recovery. The overnight 61.8% almost does that, which would make 2375.00 and lower likely, instead.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2382.75 would be likely to trigger the 2386.25 bias-down signal at 10:15, and very vulnerable also to renewing the bias-down signal under 2380.00. Exiting the open above 2390.50 would be unlikely to trigger bias-down.

Phonetic dictation…
good morning welcome it’s Friday type of Friday’s Market or time Friday’s close so let’s stay at it don’t forget we’ve got a we’ve got no Saturday review this weekend though Saturday review it’s a holiday weekend in the US it is Mother’s Day happy Mother’s Day in advance so no Saturday review this weekend any questions any procedure core methodological or stock chart questions please come on in post them during the day we’ll get to know what’s going on here you know how similar setup so it appears sequentially sell them resolved similarly but here is last night’s drop single-minded one-way relentless what’s ignore this for a moment it actually hasn’t changed that description replacement of the intraday rally here is Tuesday night or Wednesday night is Wednesday nights drop single-minded relentless one-way relentless ignore that but it actually doesn’t change characterization either in fact Let’s ignore everything under here because the equivalent two timing wise between the two so far at least is that last night as retraced a very constructive healthy 61.8% pulled back yesterday’s recovery this was a little bit further along by the same time the shower or two but little further along by the same time if these are similar setup said they’re not going to resolve similarly then there are two choices here what is that there won’t be any Post open drop or is a corollary there won’t be any steep Post open drop and likely it’ll be retraced recovered if not actually reversed and probably reversed the other dissimilarity would be that rather than Plunge and or rather actually rather than being only temporary that opposed open drop plunger not won’t recover so it’s because of this that we’re not looking for a flat Friday Friday factors can have one of two effects one of those effects often it is that the impending you look today paralyzes participants in into a range maybe into nothing often and often in the afternoon and that still a possibility of course but it’s because of the similarity disability rule mine not expecting that not expecting to be still stand still we are still hiring in the range and no this isn’t actually hovering when we get a big plunge like that but we are still in the range thanks the essays close it could have been better but yesterday’s clothes had recovered back above Wednesday Tuesday Mondays was back within the range The Head and Shoulders here break one way and then recover more substantial the opposite direction we’re not into it more substantial but the opposite direction and Alton part of the because this didn’t recover a prior Hut did we cover both the prayer list so we are still in the orbit on Sunday nights High likely to be retested that’s still likely be retested likely to be retested to 2405 and probably 2415 and possibly today if recovery can get underway here we are now Friday Factor as I say can cut either way and I don’t mean either up or down I mean either it restricts or inhibits or constrains trending and today’s instance I expected to exacerbate it look at other markets real quickly really late on this I’m really not going to pound weaker back to you but still not required to but likely to provide reactions credible Looney tried to do this and shoulders and went out back and its neck line so kind of a warning shot at this point so long as the warning shot slow isn’t exceeded subsequently which it hasn’t been as of yet in the Euros pull back went all the way to its potential it didn’t have to but that’s irrelevant anyway until 1 or 920 is recovered to put into play filling the gap maybe the retesting 11025 it was tested overnight Sunday night gold found you again and Bounds even higher bouncing back into order to test the lower end of the 12 28 12 36 range that kind of affair of this kind of pattern It’s Not Unusual for that despite we can you get outstanding that is ultimately were tested Not Unusual for that anyway to extend are we need to start tracking away your Rising white here and we do include the low and that so back into this range very easily gets to the range is upper end and maybe even over throws it more substantially despite 1206 1211 being outstanding as below as well got to break this up trending support and its last touch at 12:19. To resume to decline silver a slightly different pattern I just a little choppy but nevertheless still proving higher and higher there’s when there’s a Tuesday night but Wednesday night sounds Thursday nights Tilly’s clothes under 16 22 despite the last night 1622 still need is still a Line in the Sand until closing under 16 to 1595 potential the bottom and here first step recovery 150 102 the clothes trying it touching it doesn’t do it probably get your day doesn’t do it crude oil not really 4885 and then Natural Gas reaction so probably not going to be able to 3:40 to 3:40 alright .