Pre-market Tour

The overnight reaction down from testing the 1856.50 bias-up target has extended down to the 1832.00 overnight low and through it to 1827.25. That essentially retraces yesterday afternoon’s entire rally, which had originated too late to have been sponsored by strong hands. But now its attraction below is neutralized, so extending down post-open isn’t as assured.

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

The earlier drop to 1845.00 launched a bounce back up to 1856.50. Any higher through the opening 15 minutes would be likely to trend higher this morning. Its resistance already pushed price back down to a fresh low under 1844.00. But the open is being greeted within this leg’s cluster of targeted support around 1848.00-1849.00. Any lower through the opening 15 minutes would be likely to trend down.

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

(This morning is the last chance for the new recording software to have fixed its video delay issue.)

The Employment Situation report’s reaction spiked down to fresh lows testing 1896.00. Ranging off of there has repeatedly overlapped yesterday afternoon’s 1898.00 low.

Whether or not a fresh low tests the 1894.25 bias-down target, exiting the opening 15 minutes in rally mode would help prove that sellers aren’t strong-handed. Price shouldn’t wait too long before gravitating higher.

Opening optimistically can’t afford to wait before extending higher — like, already bouncing up to 1908.00-1910.00 — because even weak-handed sellers have been absorbing bounces.

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

PLEASE REPORT TO ME ANY YOUTUBE PLAYBACK ISSUES, THANK YOU!

The reaction down from 1922.25 overnight highs extended down to this morning’s 1908.00 bias-up signal. And through that to this morning’s 1898.50 bias-down signal, and through that to probe the 1891.50 bias-down target by 1 point.

A bounce is now testing the bias-down signal as resistance. Recovering it through 10:15 would be bullish, putting into play an offsetting test of at least the bias-up signal. Otherwise, the bias-down target might be the last line of defense for avoiding a retest of yesterday’s lows, targeting 1862.75.

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

The 15-point pullback to 1893.75 has recovered to probe the 1908.75 high, to within 1 tick of the 1910.75 bias-up target. Now extending the overnight rally through this morning depends even more on extending higher through the open.

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