The First Trade & Pre-open Tour Recording… Enthusiasm lapse.
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…
The primary path to rejecting Monday night’s 2529.50 fresh highs was time-dependent. But Tuesday’s open only fluctuated around the morning’s 2527.50 bias-up signal. It was almost accidental that price was under the bias-up signal when the bias timing window triggered. The morning’s no-bias environment may have inhibited extending higher, but the afternoon’s noN-bias didn’t prevent resuming the overnight rally. Extending to 2532.50 twice tested the morning’s bias-up target, despite it never having been put into play.
Overnight action’s new info…
Blipping-up another point into the futures close touched 2533.50. Reacting down shallowly into the Globex open held a test of 2531.00. It then held the lower-end of a very narrow range through Europe’s opens.
If, then…
A target is essentially the room for noise beyond a signal, with the added input of a setup that requires its test. Tuesday morning’s 2532.00 bias-up target is the room for noise above its 2527.50 bias-up signal. Triggering the signal would have put into play its target, but meanwhile there is room for noise to get there, anyway. Exploiting room for noise in a low-volume environment is like stretching a rubber band, but with very low energy — it will likely snap back unless energy is increased. And in this way Wednesday’s session is vulnerable to snapping back down unless buying pressure increases. So, the rally might not tolerate simply opening flat, and resolve as bearishly as gapping down or dipping soon after the open. Attractions below are at 2520.25 and 2509.50 and lower. Extending higher would next target 2541.50.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2529.00 would be unlikely to trigger the 2532.75 bias-up signal at 10:15. Exiting the open above 2529.00 would be unlikely to trigger the 2526.75 bias-down signal.
Phonetic dictation…
Alright good morning good morning and welcome it is Wednesday it’s time for Wednesday’s Morning Market to her another shallow nearly ranged over night session last night was flat flat to lower the two prime tonight’s had it developed exclusively in positive territory a little more substantially at least initially Sunday night and more flat the higher yesterday or reading yesterday’s open the last night a little bit of a pause and that follows yesterday afternoon yesterday afternoon having extended higher throughout the afternoon finally getting past this hovering that initially just hovered around range around the mornings bias up signal almost by accident or by chance where 1015 coincided with price with the fluctuation around the 2750 XM signal happened to trigger no bias regardless the balance of the morning did not extend tire and the balance of the morning contained at least one fresh low as it was that’s enough that’s enough to give the mornings all sitting down signal 25 2025 new status it doesn’t get invalidated it becomes unfinished business full of soap 2525 unfinished business and so we look at other things focused on 25-25-25 32 never put into play Again by chance didn’t have to find anything but it was Matt it is room for noise noise it just so happens when it becomes the requirement to get to that end of the extreme but if we’re going to look at this as a detour on the way through 10:15 then 32 should be that room for noise here it is being tested and holding through regular Trading Post close but you can see that hasn’t gotten very far as 2532 continues to define the upper end of the range if in fact requiring 2525 to be tested if this is the end of the range we should know that pretty soon pretty early at least Post open because I Collapse or characterized how price trends down but it should start pretty early if I’m basically just look at it as if the rubber band is being stretched the upper end of the room for noise the rubber band is being stretched up to 2532 why we can’t remember never being put into play just went for noise so unless some more powerful or substantial buying pressure comes in and takes over at the margin here and this room for noise just becomes a launching pad for another unless there’s some evidence pretty quickly weather gapping down which isn’t off the table at this point just soon after the open Sliding or declining or whether the rally the weekend and rally can really tolerate the lack of extending pretty quickly Post open so we should know pretty quickly Post open because the mark of the rally should be extending if it’s going to extend it all maybe it extends to retest yesterday’s high but if the oven in 15 minutes about sylheti haven’t done it or if there’s a retest of yesterday’s high that isn’t extending High Earth revolving window and getting react rejected reacted down back into negative territory or probably heading down don’t talk to that that’s what would open the door back down today this morning it does mean that the markets going to do that and Trend down but those are the characteristics or the behaviour of us were probably trending back down maybe temporarily maybe just to 25 20 or 25 2509 50 that’s outstanding lower than that maybe only temporarily but the point is what would shift the momentum down near-term if those are being exploited pretty quickly through the open 2541 50 is next targeted above starting with the euro yesterday gave that back it’s bouncing a little more substantial but in essence there’s a probe under one 1760 Monday night and that’s should just be the beginning of the break into 11760 to come opportunity 135 with not going to be the end of it without that if there’s going to be a it should be pretty and it shouldn’t be suddenly not a little there’s a good opportunity with room up to 7935 is going to be really don’t want to see it so it’s not going to tolerate very well it’s got this much room bouncing before reversing the trend up and still waiting on a eventual third load of clothes from last week’s confirm Breakout little lower overnight it’s still down a little bit better program 250 it really has room for extending down to 4975 before recovering 5075 back about 50 75 would indicate that the pullback had ended and then natural gas did not confirm yet but within Monday’s rain so it doesn’t qualify as confirmation basically it has this room above back up to 3 299 Without You by the way because I will want to be were tested from above a bounce needs to test the prior range at that point dipping to fill the Gap back to Monday’s open back down into 91 292 then that can be neutralized that’s if this is bothering review this weekend on Saturday this weekend so if you have stocks that you want to look at before then start bringing them up please alright good luck today .