Pre-market Tour

The overnight probe above yesterday’s 2091.00 highs to 2092.50 had reacted back down within the range to test 2088.00. It’s still ranging there pre-open. Yesterday’s late sell signal was 2087.50, and its repeat is possible — probably with deeper results after already bouncing overnight from its minimum target. Gapping up may be the only condition to consider long-entry.

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Another dive attacked the 2065.50 overnight plunge’s low to within 2 points at 2067.25. Its reaction up to 2073.00 isn’t enough to prevent another dive, perhaps also a new downleg. Opening above 2077.75-2079.00 would be the minimum recovery to deserve full confidence in avoiding another dive.

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Crude Oil’s surge from fresh lows had triggered a 9-point recovery from ES 2082.00. That momentary probe into positive territory has slipped back down to 2085.00, and back into negative territory. We’ll know shortly whether the bearish WedEX remains influential this morning.

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The overnight surge attacking 2086.00 had been retraced entirely back down to unchanged, at yesterday’s 2078.00 cash session close. Now that has been recovered to fresh highs testing 2087.00. All of which is still under Wednesday night’s 2088.00-2089.25 highs, and not indicated to gap above it. Probing above it intraday is still possible, but still vulnerable to reversing back down and then some.

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The overnight rally had worked its way steadily higher to probe above yesterday’s 2082.50 high up to 2089.25. And like that, it was gone. Now yesterday’s high is being probed as support down to 2079.00. That’s just 1 point under yesterday’s cash session close, but it’s the wrong direction for extending the rally. Any trending through the open is likely to extend in that direction.

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