MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2104.75
2098.00
...would target 2110.00
2103.25
Bias-down: under 2095.00
2088.75
...would target 2091.25
2084.50
Signal status: LATE BIAS-UP
FAQ INTRO VIDEOS #1 and #2

1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

Proper context can start the day with a solid win and make all the difference.

Enter the chaRTroom here
(pre-open Market Tour begins at 8:55 ET)

Through the prior close...
Friday''s open was preceded by a blip-up to fresh highs at 2090.50 in reaction to GE''s buyback announcement. The move had complexity, trending to higher highs with its interim low holding above Thursday''s 2087.00 high. That "complexity" made the overnight high''s retest likely. Initially reacting down to 2084.50 failed to gain traction. The overnight attraction above reinstated upward momentum that became entrenched by "Friday factors" that create barriers to intraday reversals. The balance of the session trended up to 2096.00 into the close.

Overnight action''s new info...
Sunday night''s open blipped-up to 2097.75, and then began sliding. Its 2093.00 low greeted Europe''s opens, extending down to 2089.00. That was retraced to test 2093.00 as resistance, which has held as resistance for the past two hours.

If, then...
Having trended up through the prior close, gapping down under the prior afternoon''s 2091.50 bias environment low could form a "session-long decline" setup. When attempted across a weekend, this setup often fails and resolves up. Often. But sometimes they gain traction. Regardless of how it might begin, today is vulnerable to a corrective dip after Friday confirmed Thursday''s breakout.

First Trade...
Exiting the open at 9:45 under 2091.50 would be unlikely to trigger the 2098.00 bias-up signal at 10:15. Exiting the open under 2086.50 would be likely to trigger the 2088.75 bias-down signal.

Bias-up, almost out of the gate.

A pre-open dip to 2090.00 was recovered to greet the open at 2094.00. That was up 5 ticks from less than 5 minutes earlier. The 2098.00 bias-up signal was touched 5 minutes later.

Persistently overbought 3-minute RSI reflected buying pressure strong enough to maintain the upward momentum. And the rally did extend to 2101.25.

An extra dip along the way did touch the bias-up signal within 3 minutes of 10:15 to invoke the grace period. But it resolved up to trigger late bias-up. The 2103.25 bias-up target is in-play. Being triggered late, the target isn''t a requirement, just very likely -- especially if another fresh high were to print after 10:30.

A corrective dip under 2097.00 could be satisfied less than 3 points lower, or else test 2092.00. But the trend remains up so long as no deeper dip were to materialize.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2107.75
2101.00
...would target 2113.75
2107.00
Bias-down: under 2100.00
2093.25
...would target 2094.75
2088.00
Signal status: BIAS-DOWN FAQ INTRO VIDEOS #1 and #2

1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 1:20 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 1:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

A daily summary of high-profile members of several complexes... View a more detailed discussion of each chart at the end of today''s Market Wrap.

Eurodollar Mar Contract (EC, ETF: (FXE, UUP))
Sunday night''s probe under the 1.0585 support didn''t recover before Monday''s open. Its bounce filled the gap back to Friday''s 1.0611 close, neutralizing the attraction above. Nothing inhibits extending down, but another bounce has room to 1.0650 before signaling momentum may be reversing up.

Gold Jun Contract (GC, ETF: (GLD))
Friday''s recovery of 1205.00 and test of 1208.50 was retraced Monday to test 1196.00. Not resuming the rally Tuesday would undermine whether the pullback had bottomed, or was even only a pullback.

Silver May Contract (SI, ETF: (SLV))
Perhaps this isn''t quite the albatross around Gold''s neck, but it didn''t even rally Sunday night while Gold was making an effort. Closing above 16.60 would signal the trend reversing up, but any shallower bounces would remain vulnerable to extending down.

30-year Treasury Jun Contract (US, ETF: (TLT))
It was premature for Monday to already probe lower after Friday''s 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement of the Wednesday-Thursday drop .So, already probing lower to 162-28 Monday morning was soon recovered to range narrowly around unchanged. Back above 163-26 would undermine the decline''s momentum.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sunday night''s rally to 53.10 allowed room to absorb a dip Monday that fluctuated narrowly around unchanged. The 51.45 support held, so extending higher immediately remains possible.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Last week''s confirmed breakout requires no lower close, but that didn''t stop Sunday night and Monday from probing lower. The session containing a new low can''t trigger a buy signal, but closing higher Tuesday could start to form another bounce.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2098.25
2091.50
...would target 2104.00
2097.25
Bias-down: under 2090.25
2083.50
...would target 2083.00
2076.25
Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET FAQ INTRO VIDEOS #1 and #2

1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be "no-bias," and the bias signals should define the bias environment''s range.
-- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
-- "Late" signals don''t require testing the opposite bias signal, but it''s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger "noN-bias," with no bias influence.