The First Trade & Pre-open Tour Recording… Stability is not strength.

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 <<==
[Contact me ASAP if you have any difficulty viewing the recording,
or if your chaRTroom display is still miniaturized.]
Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close…
Thursday night’s flat-to-lower trending had pierced Wednesday’s 2333.50 low. But firming into Friday’s open surged into the bias environment to 2345.00. And held. Until the bias environment began lapsing, and the likelihood for a bullish Friday morning was satisfied. The balance of the session trended down, into the weekend to fresh lows at 2324.00, levels not seen for three weeks.

Overnight action’s new info…
It’s been an unremarkable night, fluctuating narrowly around Friday’s low between 2322.75-2327.00. The narrow ranging IS remarkable, considering the sudden stability at the extreme of Friday afternoon’s slide, and for hovering back at three-week old lows. But stability isn’t necessarily strength, and not quickly rejecting the trending is essentially an endorsement of it.

If, then…
Last week’s bearish pattern was its intraday and overnight drops that were continually retraced only to their origins. That was also last week’s bullish pattern — at least, the potential for reversing those recoveries back above their origins. The bearish pattern won, most recently from 2345.00. Reversing that pattern takes one of two paths. Either probing even lower and steeper before recovering that day or the next, or else gapping up and running. The former setup would target 2321.00 or 2311.00. The latter setup would gap up to and/or through 2336.00, and still face a challenge at 2339.00-2341.00.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2327.25 would be unlikely to trigger the 2322.50 bias-down signal at 10:15. Exiting the open under 2321.00 would be likely 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.] Alright good morning good morning and welcome Alright good morning good morning and welcome it Monday at 4 Monday Morning Market or of the two or is now being recorded exclusively almost exclusively and the Adobe format a if you are unable to view this entirely or having difficulty with it that you haven’t told me about last week please tell me about that today we actually do have a backup going on the Isle of the old format just to be safe but I have heard any complaints about the recording so I’m assuming there’s no complaints about the recording so we’re going to be dropping the eye Lowe’s facility shortly if I don’t hear back anything else if your display issue if you’re still not getting full screen contact me directly and I’ll work with you directly on that resolution and so very simple resolution they don’t have the control and the dashboard control panel of their product apart from that it’s okay as far as the market what is a nice to bility right you know it’s a leading question I’m going to climb or at least a break lower let’s go back a little bit there is basing or let’s just call it ranging into and out of the weekend but that range is actually coming back to the Lowe’s of last Wednesday afternoons we actually have a few minutes and then breaks leg slow where’s Walgreens Friday having tested Wednesdays intraday Lowe’s overnight bounces in the morning and then gives it all back and trans have fresh flows into the Easter holiday weekend which is itself not usual It’s Not Unusual let’s just say it’s the ordinary but it can happen and trades down to not through but to stopping optimistically short raps of the three week old 3 week old Lowe’s and it’s not like there’s anything about the choirs breaking lower but if we’re going to be getting into its orbit there happens to be a gap down that Monday 3 weeks ago 2321 that oughta be filled at the very least and room for noise under it by 10 points to 2311 in this particular pattern so looking at that in context stopping optimistically short of the prior of course we expect there to be a lower Pro but also the assumption that the markets basically trying to leave with us or is forced to leave with us because buyers and sellers are meeting each other and not finding or trying to find buyers of a much lower level or buts find sellers on a much higher level there’s a narrow range this stability should not be considered a sign of strength opposing the drop that is under way that indecision is almost at Acid endorsement of the decline of the trend that in decision that inability to reject the stage for so long so many times already so it’s going to be I think the opportunity Cigna so so I’m 21 recover the body can put it off saying that makes it stronger sponsorship that can recover but that’s just from the indecision here backing up stretching that rubber band snapped back down or already looking for a and didn’t do anything several days of that came through and 1855 323 to launch New Deli in the interim having closed above 319 does have potential to test that Gap up to 327 that’d be a lot healthier of a bounce of a correction on the way down to Fresh Lowe’s all right here except for the TSA at the front at the top of keeping it under 10 minutes and goes to get it down even more so there’s anything that you’re saying I need to elaborate on more or not meeting let me know alright hope everyone had a great weekend great holiday see if the open