Pre-market Tour (recording & summary)

The overnight decline persisted and has produced a fresh low at 2132.75. This is testing 2134.00, relevant both in the bigger picture, and for being this morning’s renewed bias-down target. The next lower support is at Monday afternoon’s 2130.50 low, which doesn’t require a test, but its test would be predictive. Gaps down are difficult to maintain when begun by relentless overnight trending, which is vulnerable to counter-trend sponsorship. However the open resolves this setup, the balance of the morning is likely to extend it.

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