Pre-market Tour (recording & summary)

Last night’s bounce had attacked 2087.00 before reversing down to 2080.50. Another bounce had attacked 2086.00 had been reversed down to greet the Employment situation report essentially flat at 2084.00. But you’d hardly know it by just looking at the chart without its time axis, as the 4-point swing before the news was simply repeated. Not until Perhaps realizing and becoming comfortable that no drop was imminent, a 6-point surge began 15 minutes later. It retested yesterday’s afternoon’s last relative high at 2088.00, whose recovery through the open would point higher intraday. Not recovering 2088.00, and especially after having held its test, keeps alive the downside potential to fresh lows.

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