Pre-market Tour (recording & summary)

Another bounce was resolved in fresh session lows. The “unfinished business below” at Tuesday morning’s 2062.75 bias-down target was met, consolidating there. Today’s first Fed speaker then praised the economy and higher rates, triggering a slide to 2055.25. This area is essentially the renewed bias-down target if the 2062.75 bias-down target isn’t recovered through10:15. So, recovering from 2056.50 is an opportunity to prove the rate hike’s effect has been discounted for now. Otherwise, a new downleg is underway. A minefield of Fed speakers is scheduled today. We’ll be monitoring the market’s reaction for any sign that their warnings have been discounted.

Details and other markets coverage are discussed in the pre-market Tour recording here:
https://roddavid10.mitel-nhwc.com/join/htpkytw