Pre-market Tour
Pre-market Tour (recording & summary)
Two overnight attacks on Thursday night’s 1999.00 limit-down continue to delay its inevitable retest. That is optimism, which is potentially bearish from a contrarian perspective.
Meanwhile, the overnight interim bounce formed downtrending pivotal resistance that intersects with the open around 2013.00. Holding its test — preferably, already reacting down by then — would target fresh lows. Recovering it through 9:45, and preferably also 2016.75, could avoid triggering the bias-down. For now.
Details and other markets coverage are discussed in the pre-market Tour recording here.
Pre-market Tour (recording & summary)
Will this be a 2500-point day? That’s basis the Dow, of course (for now). It’s coming, eventually. Circuit breakers for ES today will trigger 15-minute halts at 1965 and 1838. That impending illiquidity would only exacerbate the usual Friday Factors, which are a function of two days of impending illiquidity.
Recovering 2055.50 early enough could avoid all that. For now. Or, holding fresh lows testing 1993.50. Regardless, don’t be compelled to take any position — certainly not without pre-defining your parameters, and being disciplined to act on them.
Details and other markets coverage are discussed in the pre-market Tour recording here.
Pre-market Tour (recording & summary)
The reaction down from 2102.00 has deepened, now touching 2093.00. If “higher prior lows” at 2097.00-2101.00 are touched post-open, then extending higher through 9:45, or not, would make the difference for this morning’s trending. Patiently avoiding the higher prior lows could be the most bullish scenario.
Details and other markets coverage are discussed in the pre-market Tour recording here.
Pre-market Tour (recording & summary)
Bubbling to the surface? Surging to a fresh overnight high at 2085.00 stopped pessimistically short of touching yesterday afternoon’s 2085.75 high. Recall that it had stopped pessimistically short of touching the 2086.00 overnight high. Pessimism is potentially bullish from a contrarian perspective. So long as unfinished business below at 2070.75 doesn’t become attractive — perhaps aided by a stunningly pro pro-Brexit poll result — then a rally back to Monday’s 2092.50 high remains likely.
Details and other markets coverage are discussed in the pre-market Tour recording here.
Pre-market Tour (recording & summary)
The overnight high was a surge that touched 2086.00. That’s this morning’s bias-up target, which is resistance, and its reaction dipped to attack 2082.00. Brexit polls triggered a plunge to 2077.00. Now a bounce is testing and retesting the 2080.50 bias-up signal, as resistance. Its resolution at 10:15 should signal trending’s direction this morning.
Details and other markets coverage are discussed in the pre-market Tour recording here.