Pre-market Tour

Consolidating between 2006.00-2009.50 began slipping at its lower-end instead of bouncing again. Then the slipping began sliding, and suddenly 1997.00 has been touched. That’s probably the next convincing trending attempt off of yesterday’s equilibrium close. Recovering 2002.00-2003.00 through the open or not recovering it should be the difference between holding this morning’s 1999.50 bias-down signal, or triggering it.

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

Consolidating around the 1998.50 bias-down target had been probed momentarily down to 1996.50. Now another brief probe lower to 1995.75 has reacted right back up into the consolidation. The open remains capable of gapping down to and/or through Friday’s lows. Succeeding, or not, should trend in that direction through the morning.

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

Ranging flat-to-lower overnight has persisted, attacking 2004.00 but still indicating an open at the 2006.00 bias-down signal. Immediate trending is likely, although still possibly only as a false break.

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

Narrow ranging around yesterday’s pre-open high has continued holding 1995.00 as support. The opening 15 minutes of volatility should be predictive of the balance of the morning, if not also of the day.

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

Already firming to 1990.00 ahead of the ECB statement, its knee-jerk reaction spiked up to attack 1998.00 and then touch 2001.00. That held the room for noise above Friday’s prior highs. It also repeated the pattern of last Friday’s payrolls report, which couldn’t maintain testing this area. Consequently, a reaction down to 1984.50 has retraced more than the knee-jerk reaction. The overnight high lacks the complexity that would require its retest as a “new Globex trend extreme,” but its reaction down hasn’t yet broken under prior lows to reverse the trend down — and potentially to start tracking more obviously with the ongoing topping pattern.

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