The First Trade & Pre-open Tour Recording… Trepidation.

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…
Sunday night’s opening surge to 2747.75 was retraced relentlessly down to 2736.25 before Monday’s open, probing under Friday’s 2742.00 close. Bouncing into the open would have recovered 2742.50 to reject the overnight slide, but it was barely attacked. Breaking under 2739.00 would have extended the decline, but it held two tests. Firming into the bias environment’s exit resumed the rally back up to the overnight high, which held through the close. Friday’s requirement for a new trend high close was fulfilled, while the afternoon’s 2750.25 bias-up target was left outstanding.

Overnight action’s new info…
Still hovering narrowly around Sunday night’s 2747.75 high, reacting to news from China finally triggered a dip to attack 2742.50. That was the overnight low, and it was quickly reversed into a recovery to retest Sunday night and Monday afternoon’s highs. Fresh highs at 2749.00 have so far held.

If, then…
Yesterday afternoon’s rally was reaction, and not action. In other words, it was a product of the overnight and morning’s reversal attempt having failed. Closing above the overnight highs would have reflected new sponsorship. Last night’s action is a shallower version of the same pattern, absorbing a post-open dip only to find significant resistance at the prior high. None of which prevents extending the rally today, even through the close. It’s more of a requirement that not extending the rally through today’s close may prevent it from extending. Meanwhile, probing fresh highs intraday would be vulnerable to another post-open dip, and potentially a deeper correction or reversal of the rally.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2750.25 would be likely to trigger the 2749.75 bias-up signal at 10:15. Exiting the open under 2745.00 would be unlikely to trigger bias-up.

Phonetic dictation…
good morning and welcome it is Tuesday it’s time for Tuesday’s Morning Market to order this is a regularly linked week 5 days so Wednesday is going to be pretty interesting but for now one thing that is interesting is we found some resistance you don’t need opening night attacking 4827 48 it’s recovery intraday on Monday being limited to a test of the opening surge let’s go on keep going it 2748 last night’s open ranging continuing the fluctuation Arrow fluctuation of Monday afternoon around 2748 and then another recovery after note after an overnight dip on some news from China recovery detest 2748 we see a different picture from open to close or comparing open to close barely on Thursday but extending higherdid they spell any possibility that it might be out there a retest of it might be unfinished no unfinished business about so if there is a reaction down it does have a lot of leeway it would have a lot of leeway in that residence here’s the last up late just measured from the upper end of resistance to the consolidation that had developed into the end of the year yeah we can get just as a aggressive speculative impatient pull back down to 2727 2727 75 that’s not minor and it could happen in a fairly quick or Fell Swoop so just keep that in mind to still maintainall theside days in both does relieve some of the pressure of a up down cuestionario but it also accelerates the timing for a resolution to the up-down crash scenario from this inside day today is either going to be nearly ranged or a hold support and therefore avoid the up-down crash in area resolution or resolving the resolving the not likely but the downside does remain vulnerable I want to see a little bit deeper on copper what’s the difference not that it should take so long but I mean said that the overnight that was basicallylast weekend since its open and tried to resume the decline with the likelihood being for a retest of the Lowe’s is trying to avoid that again bouncing a little bit overnight search spiking up but

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