Pre-market Tour

The overnight dip to 2267.75 reacted up to 2270.50. But only temporarily. Retracing it entirely back to the bounce’s origin is now poised to probe lower. The bias-down signal is only about 2 points lower, and holding its test by 10:15 to trigger no-bias could be bullish, putting into play an offsetting test of the bias-up signal. While that wouldn’t be assured of extending, let alone of being fulfilled, triggering bias-down would more likely extend into a deeper pullback.

Details and other markets coverage are discussed in the pre-market Tour recording here.

A relatively modest reaction to payrolls is ranging around this morning’s 2266.00 bias-up signal. Finally probing above yesterday’s highs isn’t necessarily bullish, not without also maintaining the probe through the open, and also extending higher to trigger the bias-up. All of which should start developing early, except for potentially dipping back down to yesterday’s ~2264.50 lower prior highs. Any indication that strong-handed sponsorship isn’t being attracted would instead be bearish.

Details and other markets coverage are discussed in the pre-market Tour recording here.

Retailers sinking on a couple of company warnings. Dollar sinking after China declares war on the USD. And S&Ps sinking — but only to test this morning’s 2259.25 bias-down signal as support. If it doesn’t trigger, then it won’t be for lack of proximity. Almost any delay in extending down post-open would likely resolve up either this morning or this afternoon.

Details and other markets coverage are discussed in the pre-market Tour recording here.

Fresh highs touched this morning’s 2258.50 bias-up target, and soon reacted back down to 2256.50. Extending the rally post-open is unlikely to hesitate, while back-and-filling can begin slowly.

Details and other markets coverage are discussed in the pre-market Tour recording here.

The rally to 2255.25 has reacted down 5 points to 2250.25. This attacks Friday morning’s 2248.75-2249.50 open. Maintaining its recovery through the open is the likeliest scenario that avoids backing-and-filling this morning.

Details and other markets coverage are discussed in the pre-market Tour recording here.