The First Trade & Pre-open Tour Recording… Hunkering down.

a good morning and welcome it is Monday it’s time for Monday’s morning market tour of there is what qualifies basically as a one-way Relentless trending overnight Market not substantial trending but one way not without some sort of a counter trim type of action along the way three of them but all amounting to ongoing series of Lolo’s and lower highs lower lows even in the last several minutes despite having firmed into and out of again just very minor but formed into it out of Europe’s opens so the burden of proof that the open or coming into the open is on buyers remember Fridays rally began by gapping up and maintaining a gap up above the prior sessions highs extended higher extended the new highs extended above prioritize and kind of ran out of steam there by front loading really accelerating the buying pressure into the morning and we see this into so office as well wear where the market gets scared with two days ago liquidity fast approaching and being so near recent extreme and trending substantially at the open in other direction that afternoon buying or selling pressure in this case buying pressure is accelerated into the morning or artificially created by that impatience by that sentiment it’s not that buyers were waiting for the afternoon to get long in a lot of cases they felt like they had better but in a lot of cases other cases there are buyers that are willing and in some degree intending to get one they get long earlier than waiting for the latest moment and there you have it the afternoon just ranges sideways which it did I was not here for the final hour but I left a couple of signals one at 2577 another one above that was not triggered not touched 4577 wasn’t actually it was overlapped by a few ticks once and then when it was too late to do anything and he was essentially 7857 875-7850 but the market is only lower overnight pretty foreseeable to be considered rumored to be indictments coming from the Mueller special investigation into a special prosecutor must be able to bring he will be making indictments believe plural butt some indictment of some sort or or multiple and diamonds coming today what was basically morphed from charges of trump campaign colluding with Russia to finding some sort of involvement to just seeing what sort of charges can be and that’s without any evidence of anything on that at least on that campaignthe year would be surprised I think the market would be surprised to see that there is something substantial which if it’s substantial then more power to it it’s going to have a devastating effect on the opportunity toinform this year Trump’s credibility public credibility or political Sway and hanging by a thread as it is at least in the public opinion polls if not among the senators and other Congress people whose votes would be needed to get it done so that would probably kill it and that would probably kill the rally which last week was at least two times attributed to actual developments in the direction of tax reform and it doesn’t look like from just this opening blip down there’s been other news overnight China’s down big Etc big big but the point is that it doesn’t look like there’s anything more than just the obligatory pullback constructive hunkering down ahead of the news and the News comes out and it’s if it’s not anything I so damaging to the campaign but to have peripheral figures or one time figures and not due to their involvement with the campaign I think the market gets a nice bump out of it or at least back to Friday’s High’s remember closing 2563 75 so long as it’s confirmed 2563 75 today would confirm that we’re headed to 2590 50 that could be easily taken out easily on a relief rally when we’re 10 points away at Friday night last Friday’s close was about 25 6375 did not confirm did not produce there’s another one but as you can see doesn’t require that to be a media Friday’s close as of this point resistance attractions as resistance after having been tested so much supportfor so long Monday afternoon but there are that are required from a long-standing free to just needs to get out of a Monday last Monday afternoonsFriday afternoonhas a gap down back to Fridays open at a wannabe were tested from above and the pound which for all intents and purposes has fulfilled that Gap fill took care of it pretty much over night ahead of Friday’s open but once again it’s just finding a lot of optimism not really waiting down there at 2 to buy them to create a knee support allow any accumulation it already bouncing back to 132 so pretty aggressive and then finally Aussie similar setup as to the Looney gap down Friday that should be filled from above the four bottom can be that credible silver gapping down and already Friday morning filling the Gap back to Thursday’s close that’s an attraction above that’s neutralized instead of leaving still looking for 1650 on the retest and gold having closed above range by 61.8% and then closing and not by a little butt has potential back up to 12:50 need to close about 12:50 to actually signal of bottom again and attempt to reverse a week ago we could go Thursday was very brief not really decisive anyway but there isn’t any requirements over the weekend that is the interim consolidation so it hasn’t been out there that this then would be only a directive 51 18 actually filling the Gap back to firefighter Lowe’s back to the break-out session so if that’s the case then so long as this session’s close holds his resistance were still in the downtrend looking for a lower clothes for filling the next 5415 5415 not tested overnight being tested currently having tested it closing about 5388 5388 keeps alive the upside momentum back off from itbut at the very least 5415 in before 5388 pull back limit is that predictive but for what we have up here just touching 5415 at any point and not holding 5388 is going to or would indicate some weakness at the wrong time for the rally to indicate weakness and then finally natural gas that’s November which fulfilled its Target and so I’m rolling coverage forward to December which is about a $0.17 premium I believe 15 $0.17 premium but the brake lower fulfilled its Target at what really before Friday’s open tested week old Lowe’s and then broke lower December you can see already gap down under had already gap down under the week old Lowe’sand overnight is holding at Friday’shere’s the thing with that your gas is fresh Lowe’s on a Friday 10 to be extended on Monday at some point tend to be pro-gun Monday the session doesn’t have to close lower that open doesn’t have to gap down but at some point on Monday in natural gas fresh Lowe’s I haven’t been printed on Friday 10 to be probed on Monday that’s an impediment to recovery another impediment to recovery is this Gap Town having gap down having gap down under all prior Lowe’s that Gap will want to be filled or retested from above in other words that needs to be some bounce not arbitrarily arbitrarily back above Friday’s range but actually back into prior ranges so either back up to the week old low what is now a higher priority low back up to could get up to Thursday’s Thursday’s range but the point is some kind of bounced from somewhere and we don’t even know if it comes from here or from lower from trending lower it some kind of balance is needed before dipping back down to retest Friday’s open from above to neutralize its attraction so another impediment to recovering immediately bottom line is the objective of the cell signal that we are tracking November has been neutralized and so there is no Buy Signal but any kind of but we are open to the potential for a bottom any questions and I’ll see you there before the open good luck today