Pre-market Tour

Pre-open action continues to hover around 1971.00. That’s enough to further suggest upside momentum is struggling, but not so much as to prevent retesting the 1984.50 overnight high’s “new Globex trend extreme.”

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

Pre-open action continues to fluctuate around 1943.00, whose recovery (or not) through the open should be predictive of the balance of the morning.

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

The overnight drop’s recovery extended to 1948.00. Reacting down pre-open to 1944.00 is essentially ranging around 1946.00, a big line in the sand.

Resuming the recovery post-open would be credible for extending higher throughout the day. Beware an initial gain that doesn’t hold.

Backing-and-filling could still recover — but must be recovering through the open to avoid retracing much of the overnight drop.

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

The overnight rally’s extension above 1952.00-1953.00 to 1968.75 was retraced by 61.8% down to 1957.00. Recovering it up to 1966.00 has reacted back down almost entirely to 1958.50.

Gapping up doesn’t prevent trending straight down from the open. But not already retracing the open’s gap by 9:45 could all but marginalize sellers for the day.

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

The recovery testing 1936.00 was retraced down to 1929.00, which has launched another attack on 1936.00. Gapping up above the 1934.25 bias-up target allows a little much room and time to delay extending higher, and to reward yesterday’s afternoon’s buyers for having gained traction. But that reward of probing higher this morning remains intact so long as yesterday’s 1929.25 high holds as support.

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