The First Trade & Pre-open Tour Recording… Waiting for sellers.

Proper context can start the day with a solid win and make all the difference.

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…
The holiday-shortened session bowed to different influences than normally, if it bowed to any influences, at all. Renewing Monday morning’s 2435.50 bias-up target produced no follow-through. Consolidating through the bias environment formed a Symmetrical Triangle centered around 2434.00. Breaking lower at noon fell to 2426.50 and then to 2422.00 into the early close.

Overnight action’s new info…
Ranging choppily Monday night greeted Europe’s opens from just under Monday’s 2422.00 close. A quick reaction up extended to 2431.25. Narrow ranging broke lower in time to close unchanged at 2424.00-2425.00. Tuesday night’s action has been choppy, but less so, currently hovering just 1 point above unchanged.

If, then…
The eventual reaction down from Monday’s gap up had narrowly avoided filling the gap back down to Friday’s close around 2420.00. Despite not rallying any higher in all the time since then, the gap remains unfilled. Its attraction is almost “obligatory,” likely at least to be filled. Almost obligatory, and not entirely so, because overnight action can be dismissed if not extended during the opening 15 minutes. So, extending down at all is likely to break lower  and retest Friday morning’s 2418.50 lows, which offer little support if any, on the way down to fresh lows. Rallying instead — preferably by gapping up which isn’t indicated, or by recovering Monday’s 2436.50 highs through any relevant timing window — would likely end the two-week decline and rally back up to new highs.

First Trade…
[Click here to view the Bias parameters] Exiting the open at 9:45 above 2433.00 would likely trigger the 2430.50 bias-up signal at 10:15. Exiting the open under 2427.50 would be unlikely to trigger bias-up.

Phonetic dictation…
hey good morning welcome it’s Wednesday it’s time for Wednesday’s Morning Market or Wednesday July 5th I hope everyone had a pleasurable Independence Day pleasurable safe we’ve got some news that has a track record of influencing price action maybe factors influence that can be traced suspected from the drop if the open is filling the gap or even before the open back down to Friday’s close we’re probably going to be breaking through it breaking through it says really the real test is Friday mornings 24 1850 Liz you can see the obligatory test there that support should be chipped away so if 24 1850 is were tested we probably break it on the way down to Fresh Lowe’s fresh Liz means under last week’s was at least a retest of it but 2399 to 2393 I should say 23923 otherwise turn it down so much is just pull back correct silver extended down even more deeply for some reason the transfer of the levels from July aren’t really taking need to get that done little more indelibly but here’s the July pattern July charts were on sep now but structurally the same pattern all the resistance up here being tested and needing to retest would have been the prior Sun Daze Spike down to its Target equivalent to 1635 set then the requirement to retest it at a minimum and being extended so here’s sep again 1635 Target there was Matt Pryor Sunday night requiring a retest not necessarily intraday just a retest because of its Spike value and also not being tested or Bing retraced to the degrees retraced already is because to fully testing the Target and pay the consequence now for that big detour in doing so is it closer to a bottom or it’s always closer to a bottom line is always closer to about doesn’t mean it’s closer to turn and now we have this is not or at least star crude oil which had its next resistance 4706 basically tested it overnight tested after Tuesday’s close never really extended it remember this is kind of living on borrowed time while our pattern I did Target 4490 and then that was recalculate before it was met two or Justin to 4525 this is just been accessed without triggering a pool bat or without violating a pullback this is just been gravy but if this stage back under 46 would indicate that the rally has ended at least this leg of the rally remember what are objective is that this pattern Beaver tested at the low the foreman or more durable bottom and natural gas just can’t get away from this 295 I knew after Thursday’s need jerk reaction and failed knee jerk reaction to the CIA report we knew we were coming back to test to fill a gap that basically to 295 and this should be here Sunday night came back last night to Type your transcription text here and we’ll autosave your every 15s. Make sure you use our handy shortcuts (Esc, F1, F2, F3, F4, F6) to control the audio playback..