The First Trade & Pre-open Tour Recording… Sitting precariously in the range.
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…
Monday morning’s rally was the product of an opening surge that held up through the bias environment. That more than sufficed to fulfill the second half of influence from the bullish WedEX signal. Sliding 8 points from the morning’s 2506.00 high managed to pierce “lower prior highs” at 2498.00. That allowed the late bounce to neutralize the 2501.00 gap up’s attraction. Finally, Monday’s new trend high close fulfilled the new trend high close that Friday’s new trend high close had required. There is no “unfinished business above.” Meanwhile, the afternoon bias environment exit trended down preliminarily and then attracted reinforcements. So, the final hour’s bounce may be the product of weak hands.
Overnight action’s new info…
Monday’s final bounce initially extended slightly higher to test this morning’s 2503.75 bias-up signal. Reacting down from its resistance greeted Europe’s open at 2501.00, which triggered a rally. Yesterday’s highs have been attacked to within 1-2 ticks at 2505.50.
If, then…
Did weak-handed sponsorship fulfill Monday’s new trend high close, and neutralize the attractions above? Avoiding a detour down might depend on extending the rally without delay. Reversing down through Tuesday morning’s bias environment exit — if not already through the open — would be bearish. That vulnerability is compounded by the vulnerability to reversing down a lot, since the three-index comparison confirmed Friday’s rotation out of speculation and into safety. Call it a precipice, and one wrong move could be disastrous. The last precipice was two Fridays ago, and it held. Currently indicated to gap open within yesterday’s range isn’t yet bullish enough be confident this precipice will be avoided, too. Reversing down from probing yesterday’s high would offer the highest confidence of a top forming, or of a reversal already formed.
First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2507.00 would be likely to trigger the 2503.75 bias-up signal. Exiting the open under 2500.00would be unlikely to trigger bias-up.
Phonetic dictation…
Alright good morning and welcome it is Tuesday instead of Tuesday’s Morning Market or going to know pretty shortly shortly after the open at least what sort of well we will know shortly after the open whether we’re out of Jeopardy or if the Jeopardy persists Maven know shortly after the open if that Jeopardy is being realized and what that is is no unfinished business above the confirm Breakout last week and required rental third higher clothes that was fulfilled Friday by its new trend I close words and created the need requirement for another new trend I close which yesterday full filled all during a bullish wed x influence on Friday afternoon that was fulfilled and on Monday morning that was fulfilled more steeply and the boy what else mornings bias up signal that was fulfilled within four ticks which were allowing because of the new highs Etc I don’t even more by Target won’t be met but certainly attacked more closely than within four ticks if it’s if he has high as we tested it all which is interesting as well because it would be done by we can’t or presumably by weekend because after all that upside was neutralized all the targets objectives price-wise structurally were satisfied yesterday afternoon trended down actually trending down from the mornings by its environment exit through the afternoons by its environment luminary selling pressure coming out of the bias of going into the Suburban exit that got reinforcements and that gives us contacts that this balance that follows is weak handed and guess what is what fulfilled that unfinished business above as far as the clothes the new High clothes it was needed so we had a session with no unfinished business of and we fulfilled unfinished business above through the closed both on the sponsorship of we can’t neutralize post preferably to 2507 but in any case test you say size not just touch but prober Pierce and then threw a relevant window exit back under the clothes yesterday’s closure says cash hasn’t closed equated to 502 25 yesterday’s Futures close a little bit higher sort of permed barely from the turned a little bit through the clothes couple ticks but it had been up to 325 03 so take that old 2502 2503 bar or point out if the open can do that that’s the opening 15 minutes probably too much volatility to be too too influential going forward but at least through the opening 15 opening 45 minutes through the bias timing window when the bias signal is triggered to have gapped with it or opened within USA’s range tip road yesterday’s high and to have reverse back down under yesterday’s clothes rejecting the test holding a test of 503 75 25 or 375 being the bias up signal not only that but and here’s that third touch 4th touch and now V touch any break under there having already completed to touches any break under the sub turning pivotal support this is pretty flimsy at this point it’s influential and its guiding but it’s not very supportive has a great deal of vulnerability to breaking through the prior low to attack or test that next Friday low and any prior low closed under all but in Shores targeting a retest of the low since it’s pretty important point in the pattern to be maintaining upside momentum and not a good chance at it the end probe lower last night pretty much on timing here because your lips go back to this that’s a lower probe overnight and this is after yesterday’s downtrending resistance was contained within a previous range that to discernible without seeing the overnight as well I would give it every benefit of the doubt that’s reversing to the outside of of 9025 otherwise I don’t have anybody signal in play Gold held 13 1052 suggest not signal that suggests that the downside is done and that at least bottom will try for me here’s the thing about him doesn’t form immediately in this sort of a pattern of this stage of the sort of the pattern then it might not actually becomes much more difficult to and that means need to close today but 1350 so far not really and rivet least absorb selling pressure should selling pressure come back in here again right so I think that’s everything if there’s anything left out anything extra anybody wants to go ahead and post it in the chart room and I’ll see you there before the open good luck today.