Pre-market Tour

BOE’s policy statement had triggered a reaction from the overnight range’s 2257.00 upper-end to probe more than 1 point under its 2151.00 lows. Bouncing 3 points attacked 2253.00 and resolved down to 2247.25. Another bounce attacked 2255.00. None of which assures extending any higher post-open, or bouncing again from another dip. But any recovery should be obvious much sooner rather than later to be credible.

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

The overnight range’s upper-end was touched at 2268.75, and then reversed to fresh lows at 2263.50. All of which may be only increased volatility, but potential for constructive pessimism ahead of this afternoon’s events could encourage an attempt to break lower.

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

The overnight rally has extended to retest yesterday morning’s 2259.00 high by 2 ticks. If tested post-open, then maintaining or rejecting it through the 9:45 could be predictive of the next leg — either up to probe Sunday night’s highs above 2265.00, or down at least to fill the gap back to yesterday’s 2251.50 cash session close. Still overlapping 2259.00 won’t qualify either way. Gapping up to the test makes it all the more difficult, and all the more relevant.

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

The last overnight dip’s recovery has been contained within Friday’s range around its 2254.25 close. Not repeating the probe above it would isolate the fresh highs to the overnight, and launch a reversal down this morning under 2151.25. But back above 2256.40 would help this morning to at least temporarily probe back toward the overnight high.

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

Firming back up to the narrow range’s 2243.50 high had reacted down a couple of points. But that is resolving up to greet the open in rally mode. Yesterday’s 2246.00 high is now being attacked to within 3 ticks, all but ensuring a probe of fresh highs, if not also at least to test the 2147.25 objective. After that, no assurances either way.

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