The First Trade & Pre-open Tour Recording… Nice wind-up.

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 lower participation extended through Friday, producing a narrowing 4-point range and a late break higher. Plunging overnight to 2492.00 and mostly retracing before the open to unchanged at 2499.00 didn’t have much effect intraday. Two attractions outstanding below had been neutralized by the overnight plunge but that wasn’t converted into a recovery into positive territory. Repeatedly chipping away at 2495.50 support — for which there is no bullish reason to have revisited intraday — never broke lower either. A late surge up to 2501.00 wasn’t entirely sustained into the close.

Overnight action’s new info…
Germany elections weren’t kind to the status quo “elites” which triggered the Euro to gap down. The Globex open’s knee-jerk reaction was only a blip-down to 2497.50 that immediately reversed up. And up. Friday’s late 2501.00 high was probed up to 2504.50, touching Thursday’s opening high. But the overnight choppiness was only expanding, and another reversal has fallen back to Friday’s 2495.00-2495.50 lows.

If, then…
There was no bullish reason to revisit 2495.50 intraday Friday. Any delay in breaking lower then was likely only a function of the weekend’s impending illiquidity. Meanwhile, repeatedly testing it only chipped away at its support. Now it is being revisited overnight again, for which there’s still no bullish reason. This also follows the overnight probe above Friday’s highs that is seemingly being rejected. And the wide overnight range reflects an opinionated market, unlikely to range narrowly intraday. Almost any open that probes negative territory is likely to extend down. But the choppiness does keep alive potential for one more attempt to absorb sellers.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2500.25 would be unlikely to trigger the 2503.00 bias-up signal at 10:15. Exiting the open above 2498.25 would be unlikely to trigger the 2496.00 bias-down signal.

Phonetic dictation…
Alright good morning and welcome it is Monday it’s time for Monday’s morning market tour of all tool overnight choppy wide-ranging overnight and it’s a little bit different than the two wider-ranging overnights that had greeted us previously as The Weeknd adheres before Friday’s open that I’m sorry that’s Thursday here is before Wednesday’s open those were recovered and not resume that pretty much left the market Shell Shocked not reversing Rich racing and Thursday nights tracing not reversing not reversing very late there’s a fire at the open even with the elections coming back that didn’t do well at the moment status quo and then reverses back down there remember they’re already know which could have been isolated to Thursday night but it was tested at Fridays open then at that point it’s just a matter of timing timing timing proximity to the weekend to the weekends overnight again and again there’s no reason for that but pretty soon after we should be in today Thursday 8138 e 88 880 dad’s ID to find a low gap down on the election results be held its bouncing bouncing it now right back down to the reaction Lowe’s which by the way should have been just a precursor to a tracing the entirety of this pit Electronics support back to the actual low if not already or also through it and then the UN which has a confirm break out so at least an eventual third lower close is required silver clean 17 signal but pretty critical support gold similarly down here at 12 9850 critical support but not this quickly 5430 which it is trying to utilize more last night than previously but it’s ready to break as much as I would need to retest this low last week slow and hold it yeah but it comes at a time pretty helpful touching 302 and not closing above it would be very much so 302 we’re going to be touched it otherwise and leave the door open tomorrow but it’s on its last legs.