Pre-market Tour

The otherwise narrow overnight range’s lower-end had been probed by 2-1/2 points to test 2198.00. Bouncing 3 points has resolved down sharply to 2194.00, and lower. That’s essentially the origin of yesterday afternoon’s rally, and almost any lower would compel a bearish mentality through the morning. By the same token, absorbing the dip and not triggering the 2195.50 bias-down signal would be bullish into the holiday.

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

The reaction down from the 2203.00 overnight higgh has dipped a little deeper to test this morning’s 2197.00 bias-up signal as support. That’s still above yesterday’s range, diminishing the risk of isolating the probe above yesterday’s range to the overnight. That doesn’t ensure triggering the bias-up signal, whose alternative would put into play an offsetting test of the 1289.25 bias-down signal, at least. Meanwhile, Crude Oil has reacted down already from fulfilling its target overnight, diminishing its effect as a bearish catalyst. This morning’s bias signal could be predictive of the next two days.

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

The overnight rally has extended to its own fresh highs at 2187.50. That’s also where Friday’s open blipped-up, and then blapped-down. Optimally for maintaining the bearish WedEX influence, resistance will become obvious within 2-3 minutes post-open. Alternatively, the opening 15 minutes of volatility could contain a bigger blip-up and blap-down. Otherwise, maintaining any more strength beyond the open would become more vulnerable to extending higher.

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

Yesterday’s highs have been probed, a couple of times, to at least 3 ticks above the entire 2185.00-2186.00 target area. Exiting the open at 9:45 beyond the 2184.00-2188.00 range should be indicative of whether the 2186.25 bias-up signal will trigger at 10:15.

PROGRAMMING NOTE: I am away from the screens for today’s last window.beginning at 2:30 ET. We’ll flesh out possible expiration action before then.

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

Retesting the 2172.00 overnight low has bounced again. It only attacked yesterday afternoon’s 2175.75 high, still short of yesterday morning’s 2176.25 high. But it’s not a gap down, which is the first step to rallying this morning. Actually triggering the 2177.75 bias-up signal would be helpful, too.

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