Pre-market Tour (recording & summary)

It’s not quite “Alien vs. Predator,” but Fibonacci vs. Fibonacci can be as exciting to a market technician. The overnight rally to 2059.52 formed a Head & Shoulders that reached its 161.8% extension. That reigned in some of the rally’s optimism, which could be bullish from a contrarian perspective. But its reaction up already retraced 61.8% back to the overnight high, which is a normal correction, and potentially bearish from the same contrarian perspective. Exciting! The battle lines have been drawn at 2053.50 and 2058.00, and probing either one further than its first 3 minutes would be likely to extend in that direction.

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