Pre-market Tour

Fresh highs were being pierced up to 2106.00 just before the Employment Situation report triggered a plunge to 2091.25. A consolidation formed along the way down, supported by this morning’s 2095.50 bias-down signal. A bounce just tried recovering it, which would be bullish if done through 10:15. Fresh lows in the interim remain possible in even the most bullish scenario. And triggering bias-down can make the balance of the session bearish.

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

Despite recovering back to unchanged, overnight action has dipped back down to its earlier 2091.25 low, probing under it to also test this morning’s 2090.75 bias-down signal. Holding its test would put into play an offsetting test of the 2099.75 bias-up signal. Triggering bias-down should still be limited to within yesterday’s range.

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

The overnight dip continued bouncing back to this morning’s 2089.00 bias-down signal, even as each interim dip probed lower and lower. Now one last tag of 2089.00 has capitulated to probe under yesterday’s 2086.00 low down to 2084.25.

Now the bullish scenarios can include the potential for sellers expending too much energy to be maintained. Testing or attacking the 2082.50 bias-down target and then not triggering the 2089.00 bias-down signal would be very bullish. Otherwise, much lower lows lie ahead first.

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

The overnight dip held a test of what is this morning’s 2096.25 bias-down signal. Its reaction has touched the 2101.00 bias-up signal. Spreads between the two signals are relatively narrow this morning due to the narrow overnight Globex range. But triggering bias-up has more potential to extend than does triggering bias-down.

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

Touching 2092.50 several times has finally reacted down, dipping to 2089.25 That would suffice for stretching the rubber band to launch an immediate post-open upleg. Back above 2091.25 would start to confirm. Otherwise, a deeper dip is possible down to 2087.50 before suggesting the morning will be biased downward, instead.

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