The First Trade & Pre-open Tour Recording… Self-correcting market.

Proper context can start the day with a solid win and make all the difference.
NEW! Market Tour transcript included at the end of this post…

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…
Friday was full of twists. The morning’s drop to 2373.75 was overcome by the bullish WedEX, enabling the drop’s complete recovery. Friday afternoon’s no-bias trending up to 2382.25 probe had to be retraced back down to at least 2380.00. The power of expiration turned that into fresh session lows at 2372.75. The afternoon’s uptrend remained intact until entering the final hour, which is too late to gain traction, so I’m giving so the bullish WedEX influence a benefit of the doubt for remaining intact.

Overnight action’s new info…
Friday’s late slide immediately resumed at Sunday night’s open, and soon extended down to 2368.75. That’s under the 2370.50 origin of Wednesday’s FOMC reaction. Firming back up there to greet Europe’s opens then extended back up to 2373.25. Its reaction down to 2370.50 has recovered back up to 2373.25.

If, then…
The bullish WedEX was fairly influential Friday. A more aggressive bullish influence Monday morning remains likely to influence post-open action this morning, too. But that bullish influence should be obvious without delay. Repeating the overnight test of 2370.50 could recover through the morning if the open were to gap down there. Otherwise, trending down post-open would be much more difficult to recover.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 under 2373.00 would be likely to trigger the 2373.75 bias-down signal at 10:15. Exiting the open above 2377.00 would be unlikely to trigger bias-down.

Phonetic dictation…
[NEW! Unreviewed voice-to-text real-time dictation of the Market Tour recording. Again, not reviewed or edited in any way, which can be equally confusing and humorous.] good morning and welcome it is Monday time for Monday’s Market to her what is have going on and I can we litigate the Saturday review we already knew it Fridays close that we had some interesting influences not the least of which is the bullish wed x regardless of how Fridays last hour turn down but it applies to Post open Monday morning as well and it was pretty influential Friday afternoon until there was no traction to be gained for the effort by sellers then took advantage of the open or that opening we now have some other said we had an influence or attraction back down to Wednesday’s fomc reaction the origin at 2370 50 likely to be probed by at least several ticks was probed overnight down to 69 6875 see it’s influential get on his pull back that could be repeated Post open that could be repeated Post open in the context of the bullish FedEx retaking regaining reasserting itself its influence Post open yes not only if the most likely if the open where to get down and quickly test 23 7050 if the open is a bug 2370 1523 70 15 and traction brings price back down through the open that’s going to be more difficult recovery if it’s going to be a recovery at all so no reason no requirement that is to retest 23 7050 Post open the Post open Action can become immediately influenced by the bullets wed x if the open where to eat s23 7050 getting it out of the way and holding it just as quickly as possible and preferably also exiting the opening 15 minutes volatility in some rally mode would be the next best thing as far as our having any degree of certainty or confidence that the markets rallied back influenced by the bullet watex and of course most bullish highest confidence 73 backup but more importantly the position Square it was entered around 76 the 310 320 window we really want to get some confidence going exit back above where the 310 320 window was entered 2379 that’s where we get the greatest degree of confidence if not to actually already have recovered this seems like a stretch by the way back above Friday afternoons High because having trimmed it down into Friday’s close getting up above the afternoon so I would cause a session Long Valley to form that’s a little let’s say a lot less likely having already extended down but it’s not like they’re all reopened influences there was just now comment crossing the tape that threesome and tends to I trigger Article 15 next Wednesday there’s some degree of predictability the mark of predictability a lot more than hates unpredictability by the way but there’s pretty good bility and I don’t see any reaction in the market that there at 8:30 that’s really it for the economic activity there’s potential but if 2370 50 isn’t holding through the open app is down signal23 7375 is triggered at 10:15 then rather than the bullish FedEx it’s too late to avert the wax that had to happen Friday the only thing that can happen to the text now as I can be invalidated or fail dipping down or tries we’re just going to turn down alright as well let’s get to other markets and I both have there in 2 ounces the Aussie by the way there’s one there’s a break out here 1235 Wednesday Thursday and at this stage the pullback limits tests have been produced basically a fresh High now become somewhat of a cell signal crude oil doesn’t have to pull back it is pulling back that it’s pulling back here it’s pulling back overnight 248 that it is pulling back into this island almost at this point but back to the Gap that it is pulling back after three sessions I know they can get anywhere but they didn’t get anywhere all this overlap this congestion rather than expecting Vine pressure overly optimistic bite pressure does suggest that this is able to form a bottom remember 4725 is our Louis Target and it was mad and it was held and it was responsive so good opportunity for a bottom in here that one up and then Natural Gas 295 cell signal broken not confirmed broken not confirmed Another Sunday night Gap this case down clothes under 295 again still not a cell signal you know to confirm all right questions in the chart room and I’ll see you there in 15 minutes before they open or if there’s any substantial action before then. Good luck today!