Pre-market Tour

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post…

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 gap up above Tuesday’s 2345.00 high hesitated to extend higher. That was the clue its rally was vulnerable to failure. Fulfilling “unfinished business above” at 2347.25 and holding its retest reflected shrinking sponsorship for the overnight rally. The balance of the session trended down to within a tick of Monday’s 2331.00 open — which had been tested already from a fresh high Tuesday. The session’s decline was relentless, but only gradual, never with any capitulative momentum. Sellers gained traction through the afternoon. WedEX has triggered passively bearish.

Overnight action’s new info…
Initially firming back up to 2336.00, that’s where a narrow 2-3 point range greeted Europe’s opens. That triggered a surge which extended higher to test 2341.00 by 2 ticks. Now the extension is being consolidated back down to what is this morning’s 2339.25 bias-up signal.

If, then…
Tuesday’s low already had retested the 2331.00 starting point of this week’s rally. And its retest had resolved in Wednesday morning’s fresh high. So, there’s no bullish reason to revisit Monday and Tuesday’s low. Extending down this morning might find obligatory support at Sunday night’s lows, but their test would likely resolve down. Meanwhile, extending down could be delayed by a corrective bounce, but not much higher or for much longer than what has been produced already last night.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2341.00 would be likely to trigger the 2339.25 bias-up signal at 10:15. Exiting the open under 2337.50 would be unlikely to trigger bias-up.

Phonetic dictation…
[NEW! Unreviewed voice-to-text real-time dictation of the Market Tour recording. Again, not reviewed or edited in any way, which can be equally confusing and humorous.] good morning welcome so it’s Thursday it’s time for Thursday’s Morning Market or quick housekeeping note at the top did you get any mail overnight asking for any final comments or remaining comments at least on the quality of the Adobe Connect platform any conectivity issues are you being dropped I don’t want you to think it’s necessarily you I’m looking for any reason not to use that to commit to Adobe so that we don’t commit to the wrong or something happy to try any other so two questions did you get an email regarding this last night from the to make sure that you see all the point that I’m covered in there to judge your thought process on your experience with the new platform the platform at least they’re testing and then also what feedback can you give me a second I was recording I love according facility will be going away if we go to Adobe it will it was necessary with any meeting because of a feature like a flaw in their product that Doe B and a dozen other platforms don’t have so don’t feel like I’m looking for Rosie scenario and I’m surely not looking for you to bend over backwards for me so whatever it is you have as far as he back please show interesting as I said in the market yesterday on your protective gear this ongoing I can’t yet say decline but ranging which we’re now at the back at the lower end of and actually not at the lower end of which is what makes it even more ominous shopping optimistically short and a couple of instances that just don’t need that kind of coddling to 3 weeks ago and a half weeks ago we had this decline that fell into 2317 Target area and bottom and we knew it I bought them because testing 17 to within three checks and 27 which was another relevant level who covered back about 31 which was the relevant level of the hole that whole leg member that number so it really into that fomc minutes release that didn’t wasn’t taken too well and since then has been trending down at least trying to down into Friday this week started optimistically by gapping up it’s just not an appropriate end to that Lake but anyway it’s retest is required required to prevent extending her anyway very optimistic overly optimistic Monday throughout the day well that was traced back to lease back to Monday’s open 2331 opening print Monday love that level 23 31 level that was recovered three weeks ago that was well that was Monday that was wrong with through 51 was tested on Tuesday and then recovered I was just at that point if 31 is so relevant and substantial and I know that because it drops origin rally again back through that retest which was yesterday morning well there’s just no bullets reason to be revisiting that level again which is what yesterday’s to climb so that it should be broken and now the number one electives of that break was eventually coming such as we testing 2317 actually 2321 being the opening at 2311 bring the room for no such as predictive indicators one stay away from nothing like that actually but that’s the expiration indicators other bells and whistles to the app that can still come in and sign it or sharpen it but the wind direction to get her saying that Friday afternoon and Monday morning will be better Behavior Ashley this is a horrible spot on the chart for Behaving Badly remember it doesn’t apply to today today actually further informed that indicator or can I ask for today we’re rallying overnight or railing to the biceps of the biceps of those 3925 is also resistance of 41 we went to that is quite a bit it’s triggered triggered and there’s about the rubber band and that’s if that’s maintained through the open which there’s no Assurance of it triggering any way alright so I stacked it or as far as strategies this morning we’re going this is active bounce assuming they’re down down side resolution so any indication that resistance is holding is a reason to look at Short entry the immediate opportunity of traction below would be to fill the Gap that he has his clothes yes his cash or some clothes acquitted to 3450 basically the lower end of the overnight range unlikely tested so we’d even be looking for fresh Lowe’s tillers game traction that’s a pretty good news if that were developed compared to the bias up signal triggering which which is called that resistance is right about here so really good risk reward too short and we will be looking for short entries as far as upside I use the neat thing about upside if there is any if this is going to be extended by triggering the 395 buy a then because the trend is down the upside moves should be pretty rough and steep so very limited exposure time too long but the more attractive downside potential is on short levels on screen as we get into the open alright very very very fast and furious alright Tuesday silver gold and the only reason why it might not be ready to extend its to climb is because it did fill a gap essentially yesterday and hold it that often needs some backing and filling like to fill the Gap that to Tuesday’s close before was all day long but which I should get rid of this because it’s a big cell signal 2 weeks ago or we can have to go down and didn’t even threaten this cell signal on Friday Thursday or Friday or Monday extended and this needs to be 24 only

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post…

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 down Tuesday held the overnight low and quickly rallied, essentially filling the gap back up to Monday’s 2345.00 close to within 2-3 ticks. A consolidation ended at the same moment that the bias environment began lapsing. Reacting down from 2341.00 probed fresh session lows that attacked 2330.00 at noon. Recovering back 2341.00 through the afternoon bias environment held through the close. Each post-open downleg stopped just short of invalidating the morning’s 2347.25 bias objective, which is now “unfinished business above.”

Overnight action’s new info…
Tuesday’s late 2341.00 peaks were being prodded and probed before Europe’s opens. The prodding and probing continued through Europe’s opens. But not for much longer, as a surge has broken through to touch 2345.00.

If, then…
Recovering Tuesday morning’s 2337.75 bias-down signal has kept the door open to extending its afternoon recovery. Not recovering 2337.75 until the afternoon bias environment has kept the door open to rejecting the recovery, all but ensuring fresh multi-week lows. Escaping that downside attraction — and compensating for the delayed 2337.75 recovery — requires rallying aggressively. Already firming overnight is a start, but gapping up to and/or through 2345.00 resistance must still extend higher through the open. Especially if the 2347.25 outstanding objective is neutralized. Otherwise, that buying pressure will only have stretched the rubber band to snap back down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2345.00 would be likely to trigger the 2341.75 bias-up signal at 10:15. Exiting the open under 2337.75 would be unlikely to trigger bias-up.

Phonetic dictation…
[NEW! Unreviewed voice-to-text real-time dictation of the Market Tour recording. Again, not reviewed or edited in any way, which can be equally confusing and humorous.] good morning and welcome it’s Wednesday instead for Wednesday’s Morning Market to her not a terribly interesting overnight session as far as volatility trading opportunities at cetera maybe we’ve got a sending trying I said maybe because it’s really and consequential landlocked in here surrounded by the price action and I don’t like to look at patterns internally there as a continuation parents reversal patterns typically or part of the bigger patterns so isolated missile triangle doesn’t really do any good but it does give us a focal point this is lower price lower price of the triangle happens also be to 2341 4125 peek of yesterday’s recovery into the bathroom I’m an exit which was a retest of the origin of that last down like that begin instantaneously with the Morning by its environment exit they didn’t extend higher either through yesterday’s final hour or the 310 320 proxy window which would have led to a rise to the clothes so it’s real if there happens to be a dip pre-open wouldn’t expect one Post open of consequences one or I’m sure that will cover it or if it’s tested it’s not like that anyway Monday’s close it’s not just Tuesday night or Monday night’s High 47 that just retested that that happens to a bit as a Monday’s close to buy a sub signal for the next morning natural resistance here or a calculable resistance test all the stuff thrown at the market which is the reason why we have the door still open during these attempts to reject what was put in the that gives us knowing that we got the attraction above and in that context sellers try to reverse and they fail at 10:30 they fail at noon to the relevant level at that time 35 they put all that probably going to be probably through Monday has that played out and it certainly looks at the picture what is here at the High thanks to the snap boat being called yesterday but that upset attraction is neutralized so unless there’s a second consecutive are closed today that made likely be at at least for topping or backing and filling for the pound and in the Aussie which went out testing and cell signal trending that even deeper overnight silver gap down slid continually gravitating back up to 1830 yesterday really needs to recover that pulled back limit there is no requirement to extend any hotair just a likelihood based on the pattern type it its placement versus prize no extent was the highest Target need to close a bug 1294 to put into play any higher highs in fact the putting a plate 1311 me welcome it is now hard 1297d and that’s being probed overnight tonight really getting follow through to that long bone is not going to reverse down suddenly from this fresh High but the bigger question is whether it’s going to extend higher and basically confirmed break up because this is a multi session rain here Friday to Monday and crude oil which broke maintained its prey kinda overlapping 52 or attacking 5270 the cell signal if there’s a break confirm today by a second cuz I get close then 5065 is employee reports this morning and natural gas eia report tomorrow it’s flirting again with 313 cell signal didn’t actually closed under it all right here and I’ll see you before the open please put any questions in the 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
[Still seeing a miniaturized chart? Please contact me ASAP for the fix.]

Through the prior close…
The week began optimistically, and not a moment too soon. An otherwise narrow overnight range around Friday’s ~2325.00 close broke higher just two hours before Monday’s open. Gapping up to 2331.00 soon surged to the morning’s 2337.25 bias-up target. Despite the weak-handed timing of the pre-open break, eking higher from there exited the afternoon bias environment with another surge. The last thrust retested the 2345.00 origin of Friday afternoon’s decline.

Overnight action’s new info…
Almost an exact, albeit inverted, replica of Sunday night’s pattern. Ranging narrowly included a momentary pierce of fresh highs at 2347.00. Europe’s opens triggered a 10-11 point slide to 2334.50. Its reaction has bounced up to 2342.00.

If, then…
Sliding overnight has been limited, so far, to a single leg. And that single leg hasn’t yet retraced deeply enough to reject yesterday’s rally. But it’s close. Viewing yesterday’s midday “eking” as if a Running Correction — bookended by surges into and out of it — offers two resolutions. Either that was a corrective dip which now allows yesterday’s rally to resume, or else another downleg will begin soon with the objective of probing under Sunday night’s lows. Either of these should be obvious through the open, or else the morning may find itself ranging narrowly around a gap down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2344.25 would be unlikely to trigger the 2347.25 bias-up signal at 10:15. Exiting the open above 2341.00 would be unlikely to trigger the 2337.75 bias-down signal. Exiting the open under 2334.50 would be likely to trigger bias-down.

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post…

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
[Contact me ASAP if you have any difficulty viewing the recording,
or if your chaRTroom display is still miniaturized.]
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday night’s flat-to-lower trending had pierced Wednesday’s 2333.50 low. But firming into Friday’s open surged into the bias environment to 2345.00. And held. Until the bias environment began lapsing, and the likelihood for a bullish Friday morning was satisfied. The balance of the session trended down, into the weekend to fresh lows at 2324.00, levels not seen for three weeks.

Overnight action’s new info…
It’s been an unremarkable night, fluctuating narrowly around Friday’s low between 2322.75-2327.00. The narrow ranging IS remarkable, considering the sudden stability at the extreme of Friday afternoon’s slide, and for hovering back at three-week old lows. But stability isn’t necessarily strength, and not quickly rejecting the trending is essentially an endorsement of it.

If, then…
Last week’s bearish pattern was its intraday and overnight drops that were continually retraced only to their origins. That was also last week’s bullish pattern — at least, the potential for reversing those recoveries back above their origins. The bearish pattern won, most recently from 2345.00. Reversing that pattern takes one of two paths. Either probing even lower and steeper before recovering that day or the next, or else gapping up and running. The former setup would target 2321.00 or 2311.00. The latter setup would gap up to and/or through 2336.00, and still face a challenge at 2339.00-2341.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2327.25 would be unlikely to trigger the 2322.50 bias-down signal at 10:15. Exiting the open under 2321.00 would be likely to trigger bias-down.

Phonetic dictation…
[NEW! Unreviewed voice-to-text real-time dictation of the Market Tour recording. Again, not reviewed or edited in any way, which can be equally confusing and humorous.] Alright good morning good morning and welcome Alright good morning good morning and welcome it Monday at 4 Monday Morning Market or of the two or is now being recorded exclusively almost exclusively and the Adobe format a if you are unable to view this entirely or having difficulty with it that you haven’t told me about last week please tell me about that today we actually do have a backup going on the Isle of the old format just to be safe but I have heard any complaints about the recording so I’m assuming there’s no complaints about the recording so we’re going to be dropping the eye Lowe’s facility shortly if I don’t hear back anything else if your display issue if you’re still not getting full screen contact me directly and I’ll work with you directly on that resolution and so very simple resolution they don’t have the control and the dashboard control panel of their product apart from that it’s okay as far as the market what is a nice to bility right you know it’s a leading question I’m going to climb or at least a break lower let’s go back a little bit there is basing or let’s just call it ranging into and out of the weekend but that range is actually coming back to the Lowe’s of last Wednesday afternoons we actually have a few minutes and then breaks leg slow where’s Walgreens Friday having tested Wednesdays intraday Lowe’s overnight bounces in the morning and then gives it all back and trans have fresh flows into the Easter holiday weekend which is itself not usual It’s Not Unusual let’s just say it’s the ordinary but it can happen and trades down to not through but to stopping optimistically short raps of the three week old 3 week old Lowe’s and it’s not like there’s anything about the choirs breaking lower but if we’re going to be getting into its orbit there happens to be a gap down that Monday 3 weeks ago 2321 that oughta be filled at the very least and room for noise under it by 10 points to 2311 in this particular pattern so looking at that in context stopping optimistically short of the prior of course we expect there to be a lower Pro but also the assumption that the markets basically trying to leave with us or is forced to leave with us because buyers and sellers are meeting each other and not finding or trying to find buyers of a much lower level or buts find sellers on a much higher level there’s a narrow range this stability should not be considered a sign of strength opposing the drop that is under way that indecision is almost at Acid endorsement of the decline of the trend that in decision that inability to reject the stage for so long so many times already so it’s going to be I think the opportunity Cigna so so I’m 21 recover the body can put it off saying that makes it stronger sponsorship that can recover but that’s just from the indecision here backing up stretching that rubber band snapped back down or already looking for a and didn’t do anything several days of that came through and 1855 323 to launch New Deli in the interim having closed above 319 does have potential to test that Gap up to 327 that’d be a lot healthier of a bounce of a correction on the way down to Fresh Lowe’s all right here except for the TSA at the front at the top of keeping it under 10 minutes and goes to get it down even more so there’s anything that you’re saying I need to elaborate on more or not meeting let me know alright hope everyone had a great weekend great holiday see if the open

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post…

NEW DAILY SCHEDULE
First, watch the pre-open Tour recording HERE <<==
[Test the Adobe version here (Apple users must use the “Puffin Browser”)]
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Wednesday afternoon neutralized the morning’s no-bias trending by bouncing back up to its 2344.25 bias-down signal and to its 2346.00 10:15 print. That bounce itself was no-bias trending, and required being retraced to the afternoon’s 2343.50 bias-up signal, if not also to the 2341.50 1:20 print. Done, and done. But despite neutralizing the downside attractions, the balance of the afternoon ranged sideways into the close. More so, another bias parameter test was left outstanding above by Wednesday’s “inside day” ahead of a three-day holiday weekend.

Overnight action’s new info…
N. Korea triggered some anxiousness with a cryptic announcement. That didn’t so much trigger sellers, as it inhibited buyers. Either way, fresh lows fell to 2334.50. A bounce recovered all the way up to Wednesday’s last relative high at 2344.00. But Europe’s opens only renewed the earlier sentiment, sending price to fresh lows at 2332.25.

If, then…
Trending into a three-day holiday weekend isn’t likely if not already underway by Wednesday morning. And it’s often finished by Wednesday afternoon. This Wednesday was an inside day, albeit inside Tuesday’s session which did probe under the prior several sessions’ lows. Now three-week old lows are being attacked, and it’s no easier to attract new sponsorship. That suggests gapping down — especially if fulfilling or holding a relevant level — may launch an intraday rally. But that’s only a brief window, and not bottoming through the open would more likely decline through the morning. Alternatively, simply not triggering bias-down would likely establish a bottom.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2331.00 would be unlikely to recover the 2333.00 bias-down target at 10:15 and renew the bias-down signal next targeting 2327.25. Exiting the open under 2336.00 would be likely to trigger the 2338.50 bias-down signal.

Phonetic dictation…
[NEW! Unreviewed voice-to-text real-time dictation of the Market Tour recording. Again, not reviewed or edited in any way, which can be equally confusing and humorous.] good morning and welcome it is Thursday at 7 for Thursday’s Market or it’s a holiday shortened week sellers are making the most of it they could have made more of it the fact that they’re making anything of it so late in the week as far as not accelerating at least is one thing that suggests they’re not going to make a lot of it today that may be wrong and I’m going to tell you how it could be wrong first of all quick housekeeping please this is really our last day to try the Adobe recording When you see the link to the Eye Lopes recording please try the Adobe recording should be should be good if your own and I if you are listening to this on an iPad need to download apparently the Puffin Browser Don’t make me say that again okay Puffin Browser and that is apparently the way to listen to Adobe recordings on iPhone or iPad but make sure you can do that we’re also going to work out the resolution the size of the screen today as well I posted that solution yesterday if you didn’t see that I’m going to post it again today and we’ll make sure that works appreciate it alright so Wednesday greetings from the morning so I couple of days into Friday that’s interesting was the first to be under 4220 exactly all the way were traced back to the final hours I just not getting any pressure trend remains intact downtrend Lowe’s in there and it’s being productive and just real quickly we’re going to look at this in the bigger picture she can see there was an attack on 2017 effectively testing it within 3 weeks ago the gap down to 2321 interim support at 2327 probably headed to 2327 lower after already probably lower a couple nights and then probably lower intraday probably had at least 23 27 if not also 2321 the Gap three-week-old Gap and then the room 423 11 the reason why I’m not sure I don’t think it’s because of the holiday weekend so that’s rally out of here at least at this stage and then the euro which has 105 50 outstanding likely except for one thing and that is actually starting to decline this bounce failed and it hasn’t yet rolled back over basically back under the one of those 6:30 level with a witch without being tested yesterday got some interesting action overnight that is potentially dating were traced if not largely or if not entirely then largely I want to see how that plays out before determining whether the next leg of the euro is resuming its decline extending it down to 105 50 or put it in a bigger belts gold sharply higher the next to our targets 1284 and was tested overnight and then 1294 being attacked up to 1297 to you can see the resistance of 9070 1294 excuse me now that 9070 is been touched 1294 remains in place along is pulled back hold 12 8825 preferably 1287 at least at least 1287 silver also sharply higher exploiting that it least went out testing 1830 if that actually recovering it yesterday so the bond with miss this opportunity on Friday 5204 Target extended higher wouldn’t reject this is another reason why I think the market is overnight same day