Pre-market Tour

The open is being greeted by a 4-hour channel between 2139.00-2141.50. At this point, Testing the 2141.00 bias-up target for so long doesn’t ensure it being exceeded durably by post-open highs. But that would open the door to a much bigger rally today instead of backing-and-filling through the noon hour.

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

Choppy ranging around Friday’s 2125.50 high has twice tested this morning’s 2124.00 bias-down signal as support. Its reactions have repeatedly attacked the 2129.75 bias-up target to within 3 ticks. Coiling just under it ahead of the open suggests it will almost literally explode higher.

Like the overnight spike up to 2133.00, exploding higher still wouldn’t ensure trending up this morning — not without at least maintaining above Friday’s high through the open. Reversing back into negative territory could begin backing-and-filling into the afternoon.

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

Payrolls was greeted near overnight highs, in a narrowly ranging consolidation, centered around this morning’s 2096.75 bias-up signal. Its spike up to 2108.75 immediately neutralized yesterday’s 2103.25 unfinished business above. Reacting down to 2102.00 was recovered to 2110.00.

Now 2103.25 is being attacked as support.

Maintaining a gap up above yesterday morning’s 2102.00 high would enable trending up into the afternoon. Otherwise, today’s intraday trend still can reverse down if 2101.00 and 2098.25 don’t hold through the open.

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

Reacting down from overnight highs at 2098.00 has now dipped a little back under yesterday’s highs, down to 2089.75. That’s the level whose recovery through another close has signaled the next higher objective at 2125.25.

But its recovery Friday didn’t prevent an interim pullback. Neither did its recovery yesterday.

Not gapping up this morning would suggest negative territory will be probed at some point today — especially if overnight highs were probed despite not gapping up. Gapping up above yesterday’s highs and extending quickly through overnight highs would be the most reliable bullish signal for today.

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

The overnight low’s retest had reacted up to test 2073.50. It’s being retested now ahead of the open. Holding above 2071.00 and quickly recovering 2075.00 could marginalize sellers, at least until filling the gap back up to yesterday’s 2080.00-2083.00 closes. Otherwise, triggering bias-down could itself imply the bias-down target won’t hold, either.

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