The First Trade & Pre-open Tour Recording… Try, try, try, try, try again.

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 open was greeted by overnight action having trended down relentlessly. The open didn’t reject it, so sellers were not marginalized. But buyers didn’t suffer the consequences before rallying yet again to touch the week’s 2553.25 high. Reacting to a headline, the afternoon bias environment’s exit collapsed to probe the open’s 2547.25 low by 1 point. The low was recovered into the close, and the morning’s 2557.00 bias objective became “unfinished business above.”

Overnight action’s new info…
Initial weakness retested Thursday morning’s low down to 2547.00 but quickly recovered to resume the late bounce. Another downswing was recovered to test this morning’s 2551.50 bias-up signal, where a brief consolidation is now resolving up aggressively to touch 2553.25.

If, then…
Another week ending in proximity to the rally’s high, having no excuse not to close at a new trend extreme. Which would entrench the rally for being produced on a Friday. No excuse, except for the ongoing distribution in this area, made obvious by three of this week’s opens either collapsing or gapping down. Probing a new high would have no assurance of maintaining or extending, especially if done early and also fulfilling the 2557.00 unfinished business above. The fear of heights isn’t necessarily bearish without actually closing under a relevant support, which has been lacking, and keeps alive the potential for resuming the rally.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2553.25 would be likely to trigger the 2551.50 bias-up signal at 10:15. Exiting the open under 2449.00 would be unlikely to trigger bias-up.

Phonetic dictation…
well that’s inconvenient I just so you know I’m about halfway through the went out halfway through but just started doing the recording for about 5 minutes and the platform stopped indicated there was disconnecting and not able to get the recording so let’s try this again rather than asking you to possibly not be able to retrieve the recording to Quick comments what is and this is totally unrelated but I’ve switched back to the original microphone facility let me know how that is or if it’s not as good as what you’ve been experiencing this week otherwise and I’ll go back but I do want to get closure on that before making that commitment and then secondly tomorrow is Saturday review we didn’t have one last weekend we do have one this weekend and next not the last week of October so there’s two Saturdays in a row not the last weekend of October but if you have any stocks or anytime please go ahead and request instant analysis snap analysis when it’s convenient to you and that’s helpful let’s look at the market again it’s Friday and where in proximity to the highs as in above prior Lowe’s in this whole series we’ve had two attempts to opportunity opportunity to actually break there was Monday but we knew that it was going to hold from whatever level because it was being attempted from a position of strength having held 43 last Friday in reaction to the employment situation report and then yesterday open that doesn’t know there’s nothing that looks like the Gap at Wednesday then at that point the opens low became relevant and the opportunity to form a pattern from being distributed distribution on Wednesday distribution that’s going to be a temporaryit was just slow playing stronger buyers don’t have had a virus coming back in we should know today because being in proximity to the highs should produce a new I close new trend I close there really is only one other piece of Unfinished Business above it’s not structural like a new trend I close on a Friday would be its calculable it’s a 2557 bicep Target that was created yesterday or by a signal that was put into play Haven’t turned positive even approached it but the pattern or the signal was productive through the morning and not rejected so it became unfinished business above so if the 57 or in the morning this morning and we exit the back under eyes so basically something like this whether or not we get to 2557 include 2557 either one would be would qualify back under prioritize the later it is the more demanding so if it’s exiting the noon hour not until I get back under 25 50 by the same token if the environment is exited back under 53 then it would be helpful for the noon hour also broken back under 25 50 that we can pound reversal but this pattern entirely possible what we haven’t had in this series of rejection of the 2550 2553 or distribution in the open this could get free I don’t know if that translates to Europe off the table still waitingcontinuingreally never got but one intraday trading session so I’m assuming that this is just a corrective balance for that reason but there’s otherwise no targets below that require being that and then the Aussie back up to 7840 which we knew that this this session would have to be retested because it’s inappropriate to have left that outstanding is that going to be able to form a durable bottom probably not because that’s a corrective because that’s a confirmed break out of sorts it’s not optimal because it’s actually not because of the Gap up but I can’t give you the benefit of the doubt that it’s recovering gold which stretched to the max by probing a fresh High probing the prior High and testing testing this Pryor High testing Tuesdays I needed to hold Tuesdays I went out the day testing at overlapping it in order to maintain the near-term potential for corrective dip still waiting for that to play out silver as well just extended has overnight tried but it has been outperforming gold long blonde correct and the passage of time passage of time correction that has been relatively brief but as long as of the sum of the corrections could be in that instance to the FED interest rates it is a reaction it has recovered completely and then Wednesday and Wednesday so that was from a position of strength that would be recovered and we’re recovering today to go back to and through Wednesday closed presumably extending higher Monday’s close so we can give it apull back limit alright any questions let me know just update real quickly look where we’re back at the highs David e325 no really I mean this is just a total reward to yesterday’s low lately though having held at retest of the mornings low to indicate that sellers didn’t start or weren’t gaining traction for their effort and meet while having expended all this energy overnight or even pre open just to get back to the upper end that robs the market the buyers of the opportunity to gain traction to gain loyalty to gain Defenders or sponsorship in other words that I want to pick up on pull back to defend against a reaction down that doesn’t mean we’re not going again just don’t see how we get out of here without probing especially now that there’s been this kind of overnight reaction there’s no reason no reason for that we’d already been there done that and reacted down so 2557 at least some decisive ProBook fresh eyes and if it’s done early which seems to be the case I can’t take that for granted because seem to be the case yesterday as well if it’s done early enough this is earlier if its sponsorship and then exit the environment or the noon hour back under those 2053 2550 levels and this could be a pretty again Harry day on the side and we get a new trend I close on a Friday and trenching the rally see you at the open good luck today

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