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Category: Pre-open

Happy Independence Day!
We often hear pundits ask, “Wouldn’t the Founding Fathers be shocked if they could visit America today?” It’s rhetorical, but I think they would not be shocked. Okay, maybe a…
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Pre-open PLAN
Overnight’s sideways range further suggests that Wed’s afternoon drop was defensive posturing ahead of Thu’s pre-open Employment Situation report. To remind, the afternoon drop expended a lot of selling pressure,…
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Pre-open PLAN
Meeting Tue’s 7563 P.M. bias-up target in the final hour left no unfinished business above, including the rally’s next two higher attractions at 7534 and 7555. Tue’s late dip went…
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Pre-open PLAN
Recall that Fri’s and Mon’s 7455 and 7497 rallies didn’t gain traction, because they peaked at prior highs, respectively. But the recovery has persisted by refueling buyers, or the open…
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Pre-open PLAN
Buyers gained no traction into the weekend, so a rally through Mon’s A.M. window all but requires gapping up above Fri’s 7459 high. It’s being probed now but it’s premature…
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Pre-open PLAN
Fresh lows overnight continues to reflect that the recent cumulative ineffectual optimism has been treading water. The outstanding question continues to be whether this fresh low will finally be enough….
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Pre-open PLAN
Overnight’s extension of Wed’s post-close MU earnings surge is nevertheless still fluctuating around 7463 and 7476. Their resolution through Thu’s 1st-15 will likely extend in that direction. Extending the bounce…
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Pre-open PLAN
Repeated instances of ineffectual optimism and distribution, making fresh lows likely, have yet to influence price action to do that. Fresh lows overnight could have neutralized selling pressure, but apparently…
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Pre-open PLAN
Mon’s P.M. window had lost all momentum so a rally required either gapping up through Tue’s 1st-15 or else an Opening Thrust that stretches the rubber band to snap back…
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