Pre-market Tour (recording & summary)

I had not noted any Fed speakers today, but apparently Bullard has snuck in to make comments. And they’re not helping the rally to resume. But they’re helping our bearish scenario, as the retest of yesterday’s 2045.00-2045.75 target area is now being reversed, aggressively, to attack this morning’s 2034.50 bias-down signal.

Holding the bias-down signal’s test would put into play an offsetting test of this morning’s bias-up signal — at 2045.50, essentially the overnight high. Triggering bias-down would suggest that sellers are exploiting their strengths before their hesitation is exploited by buyers.

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