Category: Pre-open

Is it done? Thu’s decline fulfilled the minimum downside objectives of two separate patterns that had triggered earlier this week. Now the question turns to the unfinished business left outstanding…
Wed’s pre-open Treasury headline was already retraced to its 7720 origin through Wed’s 1st-15. And its reaction to fresh highs was already retraced again through Wed’s close to 7722. Now…
Two probes under intraday lows suggest sellers are champing at the bit, awaiting intraday reinforcements to extend the confirmed breakout’s decline for a third consecutive session. Meanwhile, each probe bounced…
Mon’s close made Tue’s open likely to gap sharply in either direction, which is already indicated. And then for that gap either to extend, or else immediately reverse direction. Meanwhile,…
Fri’s opening slide had only retraced Thu’s afternoon rally to retest its 7798 low. Ample opportunity to extend down was ignored, which qualified as noise. Similarly, last night’s gap up…
Globex is still consolidating Thu’s afternoon bounce that had retraced the River Styx’s 7828 lower bank. Not only consolidating, but stopped cold, momentumless, and seemingly awaiting intraday sponsorship to return…
Wed’s afternoon bounce almost qualified as a reaction to the A.M. window’s Alternation setup. It trended clearly and relentlessly, but only to retrace the morning’s high and no higher. So,…
Sellers created several lower targets intraday, and each was met. But Oversold RSIs at the 7738 low require eventual retest. That could have been neutralized overnight, but favorable Iran scuttlebutt…
…and inhibiting — but not reversing. Prior lows held as support. Overnight Houthi headlines weren’t any more productive, either. Now we know why: Just as the initial rally was undermined…