Pre-market Tour

The earlier blip-up to 2188.00 had reacted down almost 3 points. But recovering back up to it is now spiking up through it. Noise around the 2190.00 bias-up target comes in at 2189.50, and reacting down from it would be vulnerable to avoiding the bias-up signal altogether — which would be very bearish near-term. Otherwise, maintaining the gap up would allow probing higher this morning.

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

The overnight probe above Friday’s high has been retraced back down to Friday afternoon’s ~2176.00 low. Friday afternoon’s rally from ~2176.00 had been retraced already overnight, so this extra dip is bordering on overkill. Holding its support or preferably reacting up sharply through the open would maintain the bullish WedEX expectation — if not also confirm it. Dipping any deeper through the open would be difficult to recover, let alone to reverse up.

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

The plunge’s 2175.25 low was only attacked to within 1 tick, but not broken. Not, yet. Perhaps not at all — the 2179.50 interim high is being attacked to within 2 ticks.

Recovering back above yesterday afternoon’s 2180.25 low through the opening 15 minutes of volatility would negate the potential “session-long decline” setup. That would go a long way to ensuring the Bullish WedEX’s afternoon influence. But it wouldn’t necessarily prevent backing-and-filling back down this morning.

Triggering the 2177.00 bias-down signal would be the most overtly bearish indication. And even that wouldn’t prevent WedEX from being bullish. But it wouldn’t help.

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

Reacting down from the 2182.75 overnight high has extended through last night’s initial 2178.75 low, to fresh lows attacking 2176.00. With yesterday afternoon’s rally not gaining traction, not gapping up would be unlikely to rally this morning. But without a particular attraction in-play below, dipping further need not be aggressive. So, I’d rather short strength at 2180.00-2181.25 than weakness. By the same token, I wouldn’t want to be short much above 2181.25 as a failed rally effort would still be possible.

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

The recovery attempt from 2173.50 has probed a little further back above yesterday’s lows. Not by much, just by another point up to 2178.00. That would suffice to isolate the overnight lows, and post-open action trending up without much delay would be credible for extending higher intraday. Otherwise, not quickly extending higher would become increasingly likely to resume the overnight drop to fresh lows.

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