Pre-market Tour

The recovery from dipping overnight to 2082.50 has continued testing 2091.00 as resistance. Trending higher durably before late-afternoon isn’t likely because the rally failed to gain traction yesterday afternoon. But trying to probe higher this morning isn’t unlikely. Regardless, a shallow brief pullback remains likely.

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

Rallying overnight to attack this morning’s bias-up signal is running the risk of the open attracting more strong-handed sellers than buyers. Probing above 2079.75 but not maintaining it through the open would suggest that trending will invert back down. Successfully negotiating that hazard could point sharply higher this morning.

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

The overnight rally has extended considerably higher, touching 2058.00. Being in position to trigger a “session-long rally,” not also triggering the 2053.25 bias-up signal would invert the setup. This should be a very interesting day, either way.

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

For all of its breathtaking overnight swings, the open is indicated flat or off 1 point from Friday’s 2049.00 cash session close. Not gapping down dismisses the bearish scenario, but doesn’t prevent probing this morning back under Thursday’s 2039.50 “lower prior highs.” Not gapping up undermines the bullish WedEX, although trending up through the opening 15 minutes of volatility would be likely to trend up through the morning.

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

The retest of 2042.00 down to 2040.75 has recovered back up to 2045.50. Interestingly, both levels are preliminary indications through 9:45 for making the 2043.00 bias-up signal more or less likely to trigger at 10:15. And that should make all the difference for this morning’s trending direction.

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