The First Trade & Pre-open Tour Recording… Lying in wait.

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…
Tuesday’s gap up extended its overnight rally to 2400.00, but not until after the opening 15 minutes of volatility had lapsed. Having started both late enough and early enough, the overnight rally’s sponsorship was neither tired nor weak-handed. Its post-open extension failed, anyway, despite the outstanding attraction to higher highs. The balance of the session trended back down to probe 1 point under Monday’s 2389.75 low. Which reacted up 4 points before the close.

Overnight action’s new info…
Tuesday’s late bounce was soon retraced to a lower low at 2387.50. A narrow 3-point range was briefly interrupted by a surge to 2392.00 at Europe’s opens. That was soon retraced back down to the overnight low, bouncing again back into the earlier narrow overnight range.

If, then…
The characteristics of Monday’s overnight rally usually don’t fail extending higher intraday, like yesterday’s reversal down. The alternative is usually its gap up becoming an anchor that attracts the reversal back up to it. And the alternative to recovering would be signaled by failing to hold a test of the reversal’s low. And Monday-Tuesday’s 2388.75-2389.75 lows are still being tested as this morning’s open approaches. Yesterday’s intraday decline expended 11 points of selling pressure through multiple timing windows from the range’s high, only to hold a test of the range’s low. That “ineffectual pessimism” is in addition to still hovering pessimistically short of the highs, still keeping the door open to probing new highs more overtly. But breaking lower at Wednesday’s open would still be credible for extending much more substantially intraday.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2388.00 would be likely to trigger the 2391.00 bias-down signal. Exiting the open above 2394.75 would be unlikely to trigger bias-down.

Phonetic dictation…
pretty good morning it is Wednesday it’s time for Wednesday’s Morning Market or not a lot to report overnight which is the thing to report because yesterday’s drop Post open drop little bit of a phone through it and that’s significant for identifying an anchor we’ll talk about that moment but yesterday’s basically session one drop down trim those lower hives even though we didn’t drop the entire session is a moment bouncing into the close it was still an ongoing series of lows and kicked off by an anchor from having gapped up all that sun pressure expended look at this on the intraday all that selling pressure expended yesterday just to go from the upper end of the range the upper end of the range actually being better to find by Sunday night time or Fridays close for that matter 2399 but good for the upper end of that range to the lower end of the range there is Monday’s low probing it holding its probe elite pro but that flushed out great signal at the low but anyway yeah all that sewing pressure could be expended gapping up extending hire through the open that first of all creates extra room to expend sewing pressure before it even starts damaging the chart or tried to and it doesn’t get damaged just by reversing into negative territory and then spending or absorbing all that so I’m pressure just too close it’s really unchanged but back within prayer time in Windows so that the bullets premise is that we’ve got an anchor up here having outlasted the open having maintain the Gap up and probe higher even though it wasn’t productive itself which usually is the case based on how that overnight really developed but the alternative is if it’s not going to it at least create an anchor or magnetic attraction to keep the reaction down however long it may extend or deep an extender for have a long keep your temper and so here’s the first opportunity to prove that say temporary reaction down that door remains open by having all the test of Monday’s low if Monday’s load doesn’t hold its test or if the lower end of this range now defined by yesterday’s love doesn’t hold through the open today is not holding there’s room below and it begins under 86 which there’s really no bullets reason whatsoever to touch again maybe overnight can be dismissed or a knee-jerk reaction to something intraday that recovers immediately but as far as trending down to touch 86 no reason for that other than to break 86 and breaking 86 guess it’s much deeper down into previous Lowe’s still though like we temporarily at this point likely likely or at least temporary can be different as far as long as we’re still holding those still holding these lows through the open preferably though by the time we already because last night yesterday’s Monday’s load point and basically range sideways there there’s open still raining sideways around Monday and Tuesdays if that’s covering pessimistically short of Sunday night time which doesn’t require retest other than calculable a there’s nothing structurally like everybody is I need to try to clean out of that requires a retest other than Friday’s new trend I close that still at some Future Point needs a nother Trend I close so you can see why it’s so early but I wouldn’t take them in this pattern isn’t already rulers or more substantial so are we taking control at the probing lower under 88 today’s open that puts all right there there’s no there’s a chance the lower end of this the previous range other markets continued yes a wee touch the next load of jacked it was never really put into play Just room down to the 150 22 held it was propelled into the clothes so as long as there’s no second consecutive lower close today there’s not a break out there is it’s so on the cusp ear yesterday’s clothes being a break out itself it was still testing prior today low for was certainly in Fresno close so it’s so on the border line I’m just not rushing to buy this in the event that there is a third load of clothes at least gotta be fresh clothes anyway so to see this bounce then back into positive territory or back to the chiropractor Lil that’s a candidate for resistance that pushes price back down but meanwhile you know there’s room up to 151 2628 just as a corrective belt still being likely to reverse back down to at least test or vulnerable to it at least crude oil trying to resist an opportunity to extend re-test Sunday nights on the 47 area yesterday just dip API released it last night he is is today this is not that’s really position of strength but that’s actually a longer to run out bottom for range for me that ultimately holds that it’s a better bottom but we can’t draw that conclusion yet and we can’t dismiss the potential for probing a fresh probably only temporarily would be helpful to forming a bottom optimism just keep springing alive and natural gas when there’s a couple signals outstanding that basically require a new low if not a little close back above 327 tables that lower jective but otherwise he is reported tomorrow alright anything any questions go to the chart room and I will see you there before the open meanwhile good luck today  .