Pre-market Tour
Pre-market Tour… Streeeetchh.
Recovering from the overnight dip to 1938.00-1939.00 had extended up to 1946.50. Consolidating there back down to 1942.50 has resolved up pre-open to 1952.00.
So much for buying another dip.
Thin participation again this morning will make trending difficult. Backing-and-filling becomes much likelier if 1947.50 doesn’t hold as support through the open.
Details and other markets coverage are in the pre-market Tour recording here:
https://roddavid10.mitel-nhwc.com/join/zvvjskm
Pre-market Tour… Au contraire.
Sunday night’s initial rally to attack 1965.00 had been retraced already to 1946.50 ahead of Europe’s opens. That 3-4 point probe into negative territory was quickly recovered to attack 1960.00, but now 1946.50 is being attacked again. And the open is only minutes away. Exiting the open any lower would essentially put into play 1938.00-1939.00, or at least utilize the room for noise back down there. Otherwise, suddenly rallying at the open would be credible for extending higher — tentatively credible, but credible. Details and other markets coverage were discussed during the pre-market Tour here:
https://roddavid10.mitel-nhwc.com/join/rkbhmwh
Pre-close View… Back-and-forth Friday.
Trending wasn’t likely, and extending down wasn’t likely. So, once this morning’s noN-bias environment began lapsing, price could hardly wait to leave the lower-end of its range testing 1929.00 for the upper-end up to 1945.00.
Then came the afternoon’s no-bias environment. The 1944.75 bias-up signal’s retest reacted down to 1935.50. Trending was still unlikely, and sellers were still unlikely to regain control, so the dip was largely recovered into the final hour’s entry.
Probing fresh highs momentarily was retraced back under the 1944.75 bias-up signal. But not retraced entirely before the 3:10-3:20 timing window had elapsed. That slight delay may have prevented the balance of the session from sliding even more deeply, instead of just narrowly ranging choppily into the close.
Pre-market Tour… Gapping isn’t enough.
Ranging back up to 1937.50 has been supported by 1928.00-1930.00. Any lower through 9:45 would make the 1932.00 bias-down signal likelier to trigger. Even then, although extending down quickly would get a benefit of the doubt, this being Friday means be extra vigilant for reversals. Meanwhile, just exiting the open back above 1937.50 would at least undermine sellers, even if that only means absorbing another dip. Details and other markets coverage is in the pre-market Tour, recorded here.