Pre-market Tour

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

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’s open was greeted by a 19-point overnight slide. It had begun soon after  fulfilling Wednesday’s “unfinished business above” at 2594.50. The open extended the slide another point and then reacted up 10 points, only to launch another 20-point slide. Its noon hour low stopped at the 2363.75 critical support. The balance of the session rallied almost 31 points back up to the morning’s 2583.75 high. No “unfinished business” was left outstanding. Interestingly, the noon hour was entered and exited at 2570.00, having dipped in the interim down to 2363.75 — both being relevant levels.

Overnight action’s new info…
Flat-to-higher ranging supported by 2580.25 initially firmed to attack 2586.00 through midnight. A sudden downdraft back to 2580.25 gradually broke lower. The drop extended sharply to attack this morning’s 2571.00 to within 2 ticks, retracing 61.8% of yesterday afternoon’s recovery. Its reaction up is attacking this morning’s 2577.00 bias-down signal as resistance.

If, then…
But for two caveats, yesterday afternoon’s recovery was likely to extend higher overnight. Recovering before the close any higher than the morning’s high would have all but ensured extending higher overnight. But yesterday morning’s high was probed only overnight. The other caveat to immediately extending Thursday’s recovery is its timing. The impending weekend’s illiquidity introduces “Friday Factors” that can shift the paradigm. Still, holding a test of this morning’s 2571.00 bias-down target can allow the morning to rally. There’s another relative wide range of support at 2566.75-2568.50. Not recovering its test through a relevant timing window, back above yesterday’s 2570.00 noon hour entry/exit, would become more likely to duplicate yesterday morning’s decline into the weekend.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2568.50 would be likely also to exceed the 2571.00 bias-down target through 10:15 and renew the bias-down signal, next targeting 2566.75. Exiting the open under 2574.00 would be likely at least to trigger the 2577.00 bias-down signal. Exiting the open above 2580.25 would be unlikely to trigger bias-down.

Phonetic dictation…
Alright good morning it is Friday it’s time for Friday’s Market or sexual past I’m running a little late it’s an interesting pattern here real quickly than a reminder at the top we have a Saturday review tomorrow morning Saturday review tomorrow morning bigger picture of course which is going to be very interesting I can assure you of that will also look at stocks and he stalks you request which I can tell you also just looking at The Usual Suspects there has been some really interesting stuff we’re going to look at things for instance which have totally underperformed in the last rally Lake of the Broad and Market Etc so let’s move on here is yesterday’s drop which began by trending down overnight off of an initial bounce 2 resistance and satisfied 2594 50 the only calculable website objective that was outstanding there was somewhat of a of complexity to form a new globe ex-friend extreme that requires an eventual a retest that won’t be preventative to a decline it didn’t prevent attraction that requires any certain timing to test so leave that bounce or the recovery yesterday from having first of all trying to resume the overnight decline didn’t work and then drop another 20 pointsalright so there’s the short and sweet to yesterday’s decline one other thing about yesterday’s decline was what happened during the noon hour I guess he’s recovering yesterday Zach line into the new now I remember we had to next lower objectives we’re 2570 actually that was an excellent objective we just know there’s big supported 6375 2575 the 25 70 that’s where the noon hour was introduced or entered and it was exited there as well coming out of the noon hour through 120 what happened in the interim lower lows the entirety of any probing under 25 70 and the entirety of any probing under the new towers entry and exit developed during the noon hour contained exclusively into the noon hour or during the noon hour and not to mention the low was not arbitrary it touched 6375 that’s one of the things that gave us the confidence to look for that to be a meaningful low that meaningful low is already played out to a degree but more so or more relevant now that it’s already played at 2 degree is that there’s no bullets reason to revisit 2570 let alone 6375 there’s one instance that would allow her visiting 2578 2563 75 any part of this range and to be bullish to have a bullish resolution and that is to isolate its test too isolated to a timing window that exits having recovered that test where they entered if it is exited back above that entry point after probing into this range to whatever degree or below it that’s bullish to him held that test otherwise nothing bullish about returning into this 2570 support or lower and not recovering it through a relevant window as for the recovery the recovery stops short of the or stopped at the mornings High otherwise there too overwhelming likelihood that was the one big bigger yet I should say that this was a Thursday coming into Friday’s coming into Friday’s Friday factors if that one bigger opportunity to Trend higher didn’t extend then the Friday factors come into play and start exaggerating the Thursday pattern not exaggerating whatever happens over night into Friday but exaggerated Thursday intraday plunge which has potential to extend actually to duplicate on Friday so that’s where we’re at today with one more observation and that is this is a 61.8% race meant the overnight low 61.8% retracement yesterday afternoon’s rally the rally up to the overnight highs so that’s a 61.8% retracement that’s constructive so we haven’t yet resumed certainly not post open resumed yesterday that is natural down here down to 6666 75 so there is some room for noise dipping again back into that 2570 area there’s all sorts of supporting down here 945and not broken to 11:30 just whatever timing window sellers will not be marginalized today it will be openings for them to take control but if they’re holding these tests at least we’re going to be able to catch bounces off of them and also know that if there’s a return to that test no second bite of that apple down we go bigger picture just real quickly if there’s a recovery there’s a recovery it’s backed up to yesterday’s high is no insurance of any higher we have to get out of of yesterday’s highs 2584 roughly through relevant window to suggest that we are heading back to Wednesday night’s I-94 50 and higher otherwise if sellers take control through any two methods or pads that I just described that’s it 2563 75 support really doesn’t exist any longer there was no bullets reason to a Revisited it yesterday other than the isolated test during the noon hour no more bites at that Apple it’s already thoroughly tested or each of those tests as produced in the interim previously this is a big up trend and a big reversal coming if the 2563 7500 is Revisited let alone 2570 is not recovered through any relevant window after being probed and it’s a Friday so that happens at any point stick around alright other markets Euro bounce yesterday firming a little bit here overnight or at least needs to break back under 11630 to Signal the trend reversing down the Yen and needed to hold basically 8888 25 radiator support yesterday well basically above again the 8825 resistance but it’s a good start to the 805 is still relevant today to confirm does it really need to fill this 9131 but we’ll give it a close above 13190 which is being tested here now and will look for that to extend so long as it’s a valid break and persists RC in range gold really I perform silver yesterday just by ranging sideways by maintaining Wednesday Wednesdays predominant portion of Wednesday’s range but it still needs to extend higher that’s not a second consecutive are closed when the clothes yesterday is within the prior day’s range still needs to extend iron it’s not doing anything of the sort or at least not rejecting that at this moment silver again after gapping down into it never recovered and back to Wednesday has been suspicious but it never got aggressive to protect against to protect against thistrending down much more deeptesting this 153 cell signal closing 81-53 would indicate the trend and reversed back down at least two 152 maybe after that after 1:53 is confirmed if it is though. Just touching 152 but a second consecutive lower clothes for talking about new love crude oil still fluctuating chopoli sideways no new signal there or natural gas which Zorb and initially negative knee-jerk reaction on the Gia report but still hasn’t converted that ending the recording here any questions going postal in the chart room and I’ll see you there before the open good luck today

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

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 down actually represented a recovery from an overnight probe under Tuesday’s lows. A post-open dip to 2581.50 barely attacked the 579.75 overnight low. The dip held the 2582.75 bias-down signal, putting into play an offsetting test of its 2589.25 bias-up signal. The morning’s bias environment exit rallied into the afternoon’s bias environment entry, meeting the upside objective and triggering the afternoon’s 2588.25 bias-up signal. Its 2594.50 bias-up target became “unfinished business above” as flat-to-higher ranging only touched 2592.50.

Overnight action’s new info…
Globex’s flat-open soon spiked up to 2594.25. Reacting down nearly 3 points was recovered by another spike to 1 tick higher, fulfilling Wednesday afternoon’s 2594.50 unfinished business above. The interim dip’s complexity created a “new Globex trend extreme” that requires intraday retest, often the same day. Probably not today, because price collapsed into and out of midnight down to 2584.50. Like a butterfly flapping its wings across the Pacific Ocean, literally, a 500-point plunge in the Nikkei seems to have been the catalyst. A 6-point bounce tried to recover the collapse, but its 6-point 61.8% retracement ahead of Europe’s opens began reversing back down from 2590.50. Extending down aggressively at this morning’s 2586.00 bias-down signal is probing under Tuesday night’s 2579.75 low and this morning’s 2580.25 bias-down target.

If, then…
There’s no calculable unfinished business above. Fulfilling yesterday afternoon’s 2594.50 bias-objective had room up to 2600.75, and its test was likely, but never required. There’s now structural unfinished business above. — the new Globex trend extreme — but its intraday retest isn’t required on any time frame. And probing yesterday’s highs overnight makes opening under the overnight lows bearish. Already, yesterday’s intraday lows are being probed. None of which yet signals a trend change underway. The 2577.00-2579.00 area is still very supportive, and holding its test through the open could reverse the relentless one-way overnight trending. Otherwise, the next lower objective would be 2570.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2578.75 would be likely also to exceed the 2580.25 bias-down target to renew the bias-down signal, essentially good morning and welcome it is Thursday it’s time for Thursdays Morning Market to her we’ve got more signs of top oenis the biggest sign of all being on overnight plunge now about 15 or more points 16 we called it yesterday yesterday had left outstanding the afternoons bias up Target 25 9450 unfinished business above late reaction down touched pierced what would have been a cell signal earlier but was too late to be credible and instead held looks like a flurry of China economic numbers came out and helped facilitate a spike up to 9425 that right away big enough to that and come within 3 minutes of the 9450 objective neutralizing it it was touched anyway more importantly look at that into dip that interim dip the reaction up that’s complexity because of a single tick which I’m giving a benefit of the doubt to because there’s an extra tick there as well actual Touch of 9450 again and that’s significant because if that’s and its new high during Globex for the trend it’s a new glove xtrend extreme and being a new globe and extreme it requires intraday retest eventual intraday retest often the same day today there was an extreme ahead of Tuesday’s session pretty decent reaction down in the interim nothing like what has happened here overnight but that was very quickly at the market collapse that was the only time which was the unfinished business above as a bias objective was neutralized and in doing so and neutralizing it created unfinished business at 9450 breaking under the initial opening under the initial what happens when you’re being tested and it only takes a little. This downside momentum which is single-minded it’s one-way Relentless overnight trending which very often not always very often at the open the sponsorship participants in the overnight move in this case of collapse pretty sure the participants in that move they are overseas versus the US they’re not defending they’re looking to get out and regular time Tradersstillmy dad that off happens often enough as well and they had better there’s one more lower objective yes weeks then down through the open the next lower objective 2577 2779 actually I’ve been looking at this point there is one more line of support here as of trending support but if that doesn’t hold then we’re looking at 2570 and not a lot of support at 2570 more like obligatory or at least some potential for a bounce now this drop overnight I just to see a just to see where we’re at verses by his parameters that is or was Tuesday night’s low 25 to 86 the signal you can see the influence inflection there 86 especially but that fails and breaks back under 8025 signal basically 2570 that’s a big move it’s also possible that we get all that out of the way at the open if there’s not too big it up again and make it attractive for another Slaughter then instead of opening and its weakness buyers won’t be marginalized they may be waiting in the wings a lot that can happen in this particular pattern between now and the open one thing you might be developing inverted head-and-shoulders 16018 2586 so keep an eye on that pattern could be alright to be sure but we know that there’s a look at the gap down back to Tuesdays open under all that needs to be filled from a reversal down on the way anyway one of the catalysts to the overnight drop was a noted yesterdaywhat made it interesting to comment on yesterday afternoon and hasn’the tried it yesterday is open but failed more so chipping away at its resistance in that here overnight is actually taking off for at least probing a little bit higher hardly commensurate with a 500 Point drop I think widely commensurate with a 500 Point drop in the UK but that looks to be perhaps one of our best setups going right now is the potential for the Yen triggering a recovering offsetting that with the new K I don’t know to what degree but that looks to be an interesting catalyst if it can maintain this recent break Tuesdays High try Mondays High which was poised to do or left us poised to do today that’s bullish a little bit of last week’s low for two-week-old low and 131 was premature in doing that is forming an accumulative pattern taking time back and filling there is this gap down to 130 90 it was attacked overnight back to the only I haven’t recovered one 3190 basically that might qualify as a by signal or signal backup of 13190 instead of well while waiting for 1:30 to 50 which would still be mandatory required to recover as well 3190 + gold but it does require follow through today becoming 1288 to there being a bottom underwear being tested here pre-open silver meanwhile underperforming for a change quite a bit recently still needing to get more so if it does get to 1730 keep an eye on that simultaneously with gold could be some some similarities in a directional change their they can both react at the same time that’s really needed too convincingly breakthrough not just last time but also extend higher so but it’s been a while it’s expanding the same energy same sponsorship not indicating with a steeper slope or reaction to recover absence there is vulnerability to before reversing momentum down crude oil huge huge knot but anyway not rejected retraced quite a bit of the morningwhich was a flipbut not a rejection at least not yet pivot reversal type of structure lacking just a couple of features the sharp gap down the ongoing uptrend this in pause for a day and then the clothes under the mornings loso can’t say that momentum is reverse down I’ll raise the cell signal today it currently it is still 4:55 3035 but a retest of yesterday’s high is likely if there’s no immediate follow through already this morning an overnight there certainly isn’t and then finally natural gas greeting today’s report from a position of strength and really as of Tuesday’s close needing all ready to have rejected the 309-312 by closing back under 309 it had to have been given the benefit of the doubt by proxy gapping down yesterday after 3 or 9 instead clearly that’s not the case so there is potential for a reaction down but it’s just temporary on the way to higher Heights any questions good luck today

next targeting 2570.00. Exiting the open under 2584.00 would be likely at least to trigger the 2586.00 bias-down signal. Exiting the open above 2588.25 would be unlikely to trigger bias-up.

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

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…
Tuesday’s open was greeted by a pullback from the 2593.50 overnight high’s “new Globex trend extreme.” The setup requires intraday retest, often the same day. Its pullback had tested the 2587.50 overnight low with ample timing to break lower. But bouncing into the open recovered to touch the overnight high, neutralizing its attraction above. The overnight high held, as did the morning’s 2591.50 bias-up signal. The balance of the morning slid sharply to test the morning’s bias-down signal down to 2580.75, neutralizing its attraction below. Flat-to-higher ranging through the afternoon attacked and pierced 2587.00 as resistance through the close.

Overnight action’s new info…
Not breaking to fresh session lows during yesterday’s final hour was surprising. Too much of the noon hour’s bounce to “higher prior lows” had been retraced. The Globex open compensated for the delay by gapping down at least 3 points to 2584.00 and quickly extended through Tuesday’s 2580.75 low to 2579.25. Rallying into and out of Europe’s opens recovered entirely to touch Tuesday’s 2587.50 last-minute high. Flat-to-lower since then just touched 2583.00.

If, then…
The Globex probe under the intraday range forms the basis of a reversal setup. Exiting the open above a relevant high would isolate the selling sponsorship to the overnight. The paradigm shift usually improves gradually and not necessarily immediately. But it improves. Its reward would likely retest 2590.50 and probe fresh highs up to 2600.75. And since Tuesday ended with no live attraction in-play, making today unlikely to trigger a meaningful signal, any trending is likely counter-trend. So, trending intraday up to 2590.50 or 2600.75 would be vulnerable to reversing back down. Similarly, NOT trending up this morning — by the isolation setup, or otherwise — would target 2577.00-2579.00, and also be vulnerable to reversing back up.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2581.50 would be likely to trigger the 2582.75 bias-down signal at 10:15. Exiting the open above 2585.00 would be unlikely to trigger bias-down.

Phonetic dictation…
good morning and welcome it’s Wednesday it’s time for Wednesdays Morning Market to her overnight interesting gap down and yes I remember yesterday afternoon the balance from the mornings drop you can see this all the way on the right and bounce when the mornings drop had recovered through the noon hour and into the bias environment entry touching higher priority as we knew there was a ceiling there but as I said on the way down when enough sufficient amount that is of the bounce it been retraced too much actually and then retraced to be just a natural correction there would have been surprising not to probe not to resolve and fresh session Lowe’s literally the same session that was surprising that we didn’t resolve and fresh and lows not that buyers did anything with that they didn’t accomplish anything that hadn’t already been accomplished by the mornings bounce into the noon hour through the noon hour or I should say the noon hour is Bounce last minute lip up by the time we got to within 3 minutes of the cash Station close though already or still holding within 87 still holding basically the initial balance but the market makes up for those things I compensated for the delay by gapping down and extending down there’s the fresh session low I say that but I don’t at all mean that it’s not a fresh and low it failed sellers were too late to qualify so that means two things one of two things really that either so there’s just aren’t strong handed we knew that at the close of yesterday’s session as I said did not leave any attraction outstanding so it’s unlikely to suddenly trigger a signal today it’s also likely that if it tries trending trending not just at the initial attempt but will be done and we’ll be reversed so here’s maybe a glimpse of that trying to Trend overnight there’s the fresh low but holding that loan out that hasn’t resulted yet or recovered yet above a prior hi it’s trying but it hasn’t yet recovered above a prior high and if that Pryor High holds through the open which I assume if it’s going to hold through the open it’ll already be reversing down it’s an old city open we’re probably already reversing down back we are already reacting down and the effect of that is the three minutes right now not recovering through the open will be likely to retest the overnight low and appropriate probably at least a 79 2579 that’s been the minimum objective I think that’s Antiquated now but 78 7778 again unlikely to signal so likely to recover yeah this is a Wednesday we haven’t seen that many Wednesday in this environment but that would be a Wednesday reversal get something that not knowing is not within the range but actually position to get something done to be productive to trigger something and reverse it at off and Wednesday reversals reverse more than or more than once what kind of equilibrium here that can have multiple intraday reversals but not today but attempt to break probably doesn’t extend probably is recovered probably in the opposite direction the objective of the 6.75825 9050 we’re probably going to 2601 essentially but again trending trending today doesn’t matter what it accomplishes while trending because of when it’s trying to try and will likely fail as for starting an uptrend I’ve noticed that since yesterday’s low has been probed overnight probing yesterday’s range overnight exiting me open in the opposite direction above some relevant level would isolate that overnight showing sponsorship so in this case not always usually not at all but in this case that happens to be the relevant level to recover through the open happens to be positive territory so if the open is recovering and maintaining recovery in the positive territory things can get going to the upside for the rest of the morning immediately but at least gradually so those are basically two lines in the sand for the initially 2590 2601 and then potentially back down remember yesterday we had a late cell signal didn’t trigger that is but that’s pretty much 2581 50 and it’s too deep to recover so we have to go lower and probably will alright any questions about the market let me know 7633 Five Below 3035 what has formed is not necessarily a durable break lower it can be temporary but it would be obvious Meanwhile Back wood fire all in the name of accumulating taking its time to see if that can get done today he has another shot at this wasn’t confirmed Friday or after Friday’s breakout but it held its support yesterday another bite of that Apple but at this point I needs to clear the actual test of it which means fresh I close web 78-75 78-77 I’m going slow motion accident that doesn’t look like it’s still an accident unfolding is not within the context of this pattern and needs to be examined more closely at least more than once but right back up at Apple probably not another bite of that Apple probably more a successful effort if there’s a 8825silver 1690we acting up gold pull back to equally relevant level 12 7550 yesterday we acting up these are two different patterns basically because they’ve left two different types of Unfinished Business below but if gold can’t make it here there’s an attraction below to 1268 1268 50 and yeah it would neutralize an attraction to test it but the pattern itself just gets very top-heavy if that has to happen long bond has a really exploded higher I mean the steepness of the slope here is not conservative it’s aggressive to a degree gapping up but it’s still is not the kind of explosive behavior that’s needed to get out of the orbit it’s still this leg is still overlapping even with that Gap still overlapping this Pryor High so it really is not in a stage that can afford to hesitate doesn’t look like there’s any real new levels in here really pull back limit now 15314 pretty much as it had been originally 15314 irrelevant level his test never got things going to the outside but still room little bit reversing momentum down I’ll put it on here basically 15320 2022 will start getting focused on this pull-back is maybe being constructive F-150 322 but again under 153 back to the Lowe’s crude oil confirm yesterday steel rim for a natural gas getting kind of late for that would get the timing back but it’s pretty much through the morning without you will be leaving tomorrow from a position of strength good luck today.

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

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…
Recovering an overnight slide by Monday’s open had isolated its probe into negative territory. Post-open action didn’t delay extending higher, although the bias-up signal was triggered late. Its 2590.50 bias-up target was met to within 3 ticks at the afternoon high. That also satisfied the rally’s next higher objective, which had been put into play by recovering 2563.75 previously. It also fulfilled the prior Friday’s new trend high close requirement for another new trend high close. A late reaction down was too late to be deep or lasting, and easily bounced back 1-2 points to close at 2588.00-2588.75.

Overnight action’s new info…
The rally soon resumed, first to actually touch 2590.50, and then to extend higher, printing 2593.50. Complexity created a “new Globex trend extreme” that requires an intraday retest, often the same day. Already slipping into Europe’s opens, the overnight rally has been retraced entirely. Yesterday’s close is being tested down to 2587.50.

If, then…
Attraction back up to the overnight high is relevant so long as price action remains in its orbit. Having probed overnight above the prior session’s high, opening under the overnight low would break free from that orbit and reverse momentum down. The more bearish scenario would avoid creating a gap back up to yesterday’s close, let alone leave outstanding a required retest of the overnight high. Holding up through the open would make the overnight high’s retest likely, but not assured. The bias-up target is above the overnight high, with further room for noise up to 2600.75.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2590.50 would be unlikely to trigger the 2591.50 bias-up signal at 10:15. Exiting the open above 2592.25 would be likely to trigger bias-up. Exiting the open above 2587.50 would be unlikely to trigger the 2583.50 bias-down signal.

Phonetic dictation…
good morning and welcome it is Tuesday it’s time for Tuesday’s morning morning at 2 or yesterday we saw the 25 9050 Target met 25 9050 next tire objective of the rally which had been triggered by recovering 2563 75 for two consecutive sessions that happened. Last Friday but the Friday before recovering it and then maintaining the recovery through last Monday I that had been attempted the previous Monday or previous Friday sorry back above closing back above 6375 but despite extending higher that Monday morning 6375 was being tested at at the close so that Monday is close not enough just being on the couch but not up for liability but I came back anyway and 25 9050 is now satisfied and in the interim was that between the two Fridays attempting to recover 2560 375 through their following Monday and then since last Friday last Friday’s recovery and Mondays maintenance above 6375 there’s been a couple test at 6375 s support here is Wednesday mornings dip which head was really a repeat of the prior evening Tuesday evening step to 6375 so there’s been a lot of backing and filling while taking out 6375 and putting into play 9050 so the question which was satisfied yesterday which was immediately tested last night and by the way with complexity do you see how this is yesterday’s high. Notice how the overnight there’s complexity at that point any is overnight at that point is not always the question is there going to be a bigger reward than just 25 1954 all the defending the fires have done that’s the important question sort of other doesn’t mean even if we knew it’s complete certainty that the rally we’re going to extend that it’s going to extend immediately there’s with unfinished business above there’s an entrenchment of the rally the rally uses that as a tactic to back and fill track shorts to refuel so even if we knew with complete certainty that higher targets are in play or out there or going to be we don’t know that there’s not going to be a downdraft first and that’s really what we care about trading intraday so we’re trading intraday and were wondering a couple things number one are we still in the orbit of the overnight High because that overnight high is off and the next day or that day well as determined the orbit of it is determined by its range the range of its window and this is its window back down to the overnight low which is basically 2587 50 15 minutes we’re going to look for a recovery backup to the overnight scenario actually even though it’s not required it can be attacked will definitely be monitoring the 61.8% back up to 95 so there’s any particular to retest on the way to the bicep Targettriggered about 9150 putting into play 97 and 97 can be probed there’s room for noise above 9050 another pattern a bigger picture the bigger picture than that identified 9050 there’s room up to 2675 so there’s room above if the open can remain in the orbit of the overnight High there’s also room below if the opposite if the not something in between the office at the overnight low having probed above the prior sessions High exiting me open under the overnight low under 25 8750 that is at 9:45 failing a hold 8750 would get out of the orbit of the overnight High regardless of it being a new globe extra extreme it’s a completely different or separate set up that doesn’t need a new go back strain extreme to be activated just haven’t proved above the prior sessions High exiting me open under the overnight low is reverses that is the trip versus momentum at least for the sake of a pullback so plenty of room at least plenty of opportunity for the rally to refuel again just a likely scenario back down to 78 79 I couldn’t see getting too carried away to the downside and still being likely in the near-term to retest last night size but it would be put on defense the rally that is so they wouldn’t require any particular it would just from a process of elimination take that off the table that is for the another piece of Unfinished Business and by gapping down would create another to give contacts to a pullback being a correction so don’t be too quick to the rally but don’t be too big a believer that it has to continue today if it’s going to continue still just watching a couple signals available today yesterday or Friday though having gotten almost or low enough to basically fill the Gap that the prior Friday had failed to do that’s why it’s bounce was unsustainable so basically closed under 7630 or above 7710 should launch the next leg the pound meanwhile down here can do some more decent substantial backing and filling there’s room right away preferably a little more time and we’ll be able to not so much but Fridays break out because yesterday and Friday as expected that has a tasting yesterday wasn’t likely to do anything substantial there’s a long-awaited much bigger decline that seems to have been built up opportunityas an opportunitynot until then Nikkei is on what 23 out of the past four and five sessions rallying some say it’s do alright gold bounced sharply really extended really exploited this test of 20 of 12 6650 got out of 73 7550 still needs to close above last week’s High 1285 High not just above 1280 ft that’s no longer a.m. Determining factor to prove that a bottom is in overnight that’s not being handled terribly well but so far just returning to the bicycle preferably above 1285 would confirm momentum having reverse stopping and more like a bottom we lost silver also needs to close above last week’s High 1725 which called as resistance yesterday to what I think is a rogue leg this is why I have to be suspicious about gold because silver had tried to get out of here already and basically this Gap up what are qualified for getting out of the orbit of this Gap that wanted to be filled otherwise back down to last Tuesday’s close having returned to that Gap up said it was likely to be filled nothing about yesterday’s session said otherwise expended a lot of buying pressure just to get back to the level which isn’t a bad tactic to get back to the level that then the next session today could recover to form a bottom butt that’s also not in the works here at the time at the present time Long Pond in the last couple days you can see that Friday well it’s pretty much exclusively in positive territory extend and then yesterday I actually spent the session in positive territory exclusively pattern in particular in particular at this stage which is testing prior highs I can’t keep that up and definitely it also at this stage should basically Force the realization that momentum or the trend has reversed up if it has reversed up or it hasn’t reversed up and it should Express that forced realization by basically almost but I should say almost literally exploding higher this morning until 10 but not exactly trying to explode in the interim unrest in Saudi Arabia that may have kick this into a new leg so in other words not just getting your car to a screeching halt and coming up on the curb temporarily before getting back on the road but actually taking his leg this leg which originates from the inverted Head and Shoulders 5150 255 50 plus and extending it by 61.8% 160 1.8%because that overthrow which tends to be rectified pretty abruptly if it’s not extending higher natural gas dryer 24 hours ago we were talking about it having capped up 2 or 3:09 if we can test 312 intraday and clothes back on to 309 yesterday whatever verse the tread back down at least and fill these two outstanding gas to 294 what 312 held it was recovered and held its recovery actually creating a position of strength for still possibly reacting down today but still needs to actually break back under 309 specially maintain through the clothes 294 which we now know if it originates from his position of strength would be temporary and would launch a bigger recovery closing about 3:12 instead prioritize alright that’s it and I’ll see there before the open good luck today

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

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’s two recoveries from testing 2563.75 as support had recovered to 2578.00. A relatively small knee-jerk reaction to Friday’s pre-open Employment Situation report was quickly erased from 2581.25. Post-open action dipped to 2574.00, holding Thursday’s “lower prior highs” as support. Rallying out of the morning’s bias environment extended through the afternoon’s bias environment to retest Wednesday’s 2585.50 high. The afternoon’s 2586.00 bias-up target was fulfilled to within 3 ticks. A new trend high close was less than optimal as the balance of the session ranged flat-to-lower to 2582.50.

Overnight action’s new info…
Volatility didn’t take long to re-appear after the weekend. Saudi purge, Dudley retiring, Paradise Papers, Wilbur Ross – Russia allegations… to name but a few of the weekend’s headlines that Sunday night’s open both reflected and tried to absorb. The open’s nod to all of that was a blip-down to 2580.00 which quickly reacted up to 2584.50. But the weight was more unbearable than that little dip, especially after a headline from China, as a more substantial slide extended down to 2575.50 — which is essentially a 61.8% retracement into the congestion at Friday’s lows. Firming from there attacked 2582.00 into Europe’s opens, forming an Ascending Triangle that is now breaking higher to 2583.00.

If, then…
The overnight dip, having been contained within Friday’s range, is no less noise than was Friday’s rally up to its prior high. And just like Friday’s buyers not gaining new traction, neither has last night’s sellers. Friday’s rally was vulnerable to reversing down because its buying pressure was fulfilled at the afternoon’s bias-up target. Last night’s drop is reacting up from dipping into Friday morning’s range. But that stopped short of structural support like a prior low or lower prior high. Nevertheless, exiting the open in positive territory would be credible for extending higher anyway, at least temporarily probing Friday’s highs, perhaps up to the next higher objective at 2590.50. Otherwise, a retest of the overnight low would be likely, and and Friday’s low would be vulnerable to breaking lower, with room down to 2563.75 before suggesting the trend is reversing down.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2583.50would be unlikely to trigger the 2585.50 bias-up signal at 10:15. Exiting the open above 2580.50 would be unlikely to trigger the 2578.00 bias-down signal. Exiting the open under 2576.25 would be likely to trigger bias-down.

Phonetic dictation…
alright it is Monday November 6th Timeflies this is the Monday Morning Market or it has been an interesting weekend with headlines which I pointed out at last night’s open there’s some geopolitical there’s some fomc physical Paradise papers I don’t know where that goes conspiratorial it’s just coming out of course tragedy in Texas coming at the market from all directions a lot of buying pressure being expended to ignore or absorb opening dip was limited to just a couple points of blip down really from Friday’s Cashing close Futures close was what 83 Cashing close not much different than that just bounced right back and then got a headline from China I was just warning ominously as they do but nothing really durable produce anything substantial or the reaction basically fall under the weight of all this and more 2576 E550 is it on the right back into the consolidation it Fridays open over there then that rally overnight Friday if not for me just really flat to hire a head of the employment situation report Delayed Reaction blip up itself so it’s kind of a 61.8% return it back into Friday’s range even stopped short of that if we generously get rid of ticks we kind of come up with that and then we don’t so little bit shallow on the pool bad but it’s over night so it can be dismissed so long as the intro by exiting the open and positive territory preferably isolating this overnight dip by developing exclusively in positive territory Post open right now at 8252 75 positive so that’s not at all after I definitely had sponsorship apparently stopped optimistically short of not completing itself but doing any real any real retracement it was otherwise just noise and by the way that’s after Friday’s rally member Friday’s rally had stopped right at pretty much Wednesday they started it hadn’t been done already accomplished nothing new to neutralize its attraction so sellers had created upside gravitational pull and so they need to get out of open and positive territory the openings in positive territory to get out of the attraction back down to the overnight low which is an attraction back down to Friday which really isn’t attraction to break under Fridaywe can look fordaddy 50 The Unfinished Business about being tested but failed to recover positive territory through the open there’s the attraction to the overnight low there’s Friday’s low 2574 area which basically is just no bullets reason to retest that unless something can be done through the open get the opening 15 minutes of volatility to test the overnight low and recover it hold it that could be that could establish a floor otherwise you got mad trying to be vague about how deep we could drift there’s room down to 6375 or to attack 6375 without yet reversing the trend down and as we discussed Saturday there’s no reason to touch right act 6375 unless that trend is reversing down so it gets pretty dangerous if the open or the morning hasn’t either or is trying to establish the bottom alright some value for a value range than 25 3850 2586 retest of Friday’s highs it starts running into trouble if it’s tested and also not exceeded again on Friday at relevant resistance failed to close above it leaving the vulnerability to the downside still closing within prior range is plural and there is a probe overnight of fresh Lowe’s trying to open try to isolate that to the overnight nothing changes then that’s the yen I can’t say it doesn’t make sense. To a bottom Breaking Bad on Friday overnight the opportunity to put in and then they still stuck in a Range doesn’t need to be that much more but there’s room up to 7250 73 without yet reversing momentum up and there it is being tested overnight similar set up except that haven’t come back within proximity to it 1650 objective and I haven’t stopped short of filling this new Gap back to 1670 that’s when the eye of the attempt to isolate the wrapping up above its prior High failed no bullet reason at that point to return to the Gap upgetting out of here testing 1650 is thatnegative influences that Olympic gold and prevent its recovery to valid question long Bond really did not take advantage on Friday it’s confirmed break out above 15220 because the confirmation session had fill the Gap without closing above it at 150 314 but it didn’t reject it just fluctuated around it maybe even chipped away at it the proof will be if the rally zooms and resume is above the highs of 15214 prior tests which bases basically 54041 5406 overnight there’s been some extension tu-154 05 right in there I’m going to raise the cell signal because that’s just not decisive enough to prevent the potential to prevent a reversal back down anyway even if only temporarily even if only two it’s not a cell signal yet the nearest so even though buyers are not bringing it at least not on a timely basis and they’re ending the days without having gained traction above resistance it’s being tested it’s still not enough of a pattern to reliably short a head of a pullback it’s just not there crude oil Saudi Arabia geopolitical risk premium ahead of a weekend or just the attraction to the weekend developments in Saudi Arabia the objectives of the inverted Head and Shoulders they got his back to the required 53 from late September from 5 weeks ago that was really it so fluctuating not necessarily doesn’t necessarily mean extending higher but just as testing 5415 Target last week created a very shallow pullback 5388 that is Friday’s close back above 297 there is no unfinished business testing 310 that must be exceeded that’s the 309-2312 area to prove that there is that the trend has reversed up now the Gap back to Friday I want a cell signal in the 309 312 areasubstantialrapper proving hire overnight isn’t necessarily fulfilling buying pressure so as cell signal is less reliable but what we can look at is since another Gap has been created back to Friday’s close its retest becomes likelier to also fill the prior Gap that’s about 293 294 so we’ve got a downside of jective of 293 294 that’s a lot of potential profit if we can have a good ratio to the risk premium it really comes down to this fully test this range test 3 12309 if 312 309 can be tested intraday closing back under 309 would be bearish a little closing that would be otherwise without that form then I wouldn’t be that confident that had been expended and contained all right questions and I’ll see you there before the open good luck today

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