Pre-market Tour

The overnight recovery up to 2260.50 held its reaction down to 2257.50, and then retraced entirely up to 2261.00. Which would be very bullish if post-open action were to avoid negative territory and isolate the probe under yesterday’s lows to the overnight window. The recovery could be bearish otherwise for having refueled sellers, especially if the 2257.50 bias-down signal were to trigger.

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

A blip-down to 2264.25 had accompanied Europe’s opens. It has been retested down to 2263.50. But the open is being greeted at unchanged around 2266.50. This morning is unlikely to rally without already rallying through the open. Otherwise, it’s continually vulnerable to retesting yesterday afternoon’s 2262.25 low, and lower.

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

The overnight rally has extended up to this morning’s 2267.25 bias-up target. RSIs diverged negatively there, and price has reacted down to 2265.00. That’s still above the 2262.00 bias-up signal that had held repeated tests as resistance until Europe’s opens. So, trending this morning instead of ranging may depend on either renewing the bias-up signal above its target, or rejecting bias-up back under its signal.

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

Sunday night’s opening surge had been consolidating in a relatively narrow, choppy range down to 2257.00. That’s been probed by another point, albeit only temporarily so far. Regardless of the opening print, the opening 15 minutes of volatility should make clear whether this morning will be influenced by a bullish WedEX.

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

The overnight bounce extended just enough to actually touch 2264.00. That’s this morning’s bias-up signal, which is resistance. Touching it post-open without also exceeding it through 10:15 would put into play an offsetting test of the 2255.00 bias-down signal. Not touching it at all by 10:15 could still dip to 2255.00, if not already triggering it, anyway.

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