Pre-market Tour (recording & summary)

The overnight pullback extended lower to attack 1913.00. Gapping under it would invalidate Friday’s close above 1924.00. The close already was suspicious, but it’s now official that higher targets are not in-play. Now the recovery is on defense.

None of which confirms the trend is reversing back down.

Exiting the weekend with extreme sentiment is often a sentiment extreme. Trending relentlessly overnight is often reversed at the open. And testing “lower prior highs” as support within last week’s trading range can launch another rally effort.

Extending down anyway through the open may be irrecoverable. But we’ll monitor for recovery potential if new sellers aren’t being attracted post-open.

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