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

CHARTROOM LINK(s) o Win XP-Friendly entry o non-xp friendly (ilinc) (pre-open Market Tour begins at 8:55 ET)

Through the prior close... Sunday night's rally to 2095.00 had suggested the rally was ready to resume. But a pre-open dive fell to 2083.25 through Monday's open. And that extended down to 2080.25 through the morning. An afternoon rally stopped 1 tick short of retaking control above 2088.00, and the balance of the afternoon reacted down to test its 2079.00 objective. Overnight action's new info... Actually, the 2079.00 objective was met before Monday's last half-hour began. That left ample opportunity to extend down. Not exploiting it had made an overnight rally likely to attack Monday afternoon's 2086.00-2088.00 highs. In fact, they were being probed into and out of the Globex open, extending to attack 2093.00. Too much, too soon, as that was retraced by 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} down to 2083.50. Its recovery up to 2090.00 is now dipping back into the 2086.00-2088.00 range as support. If, then... Reversing down overnight doesn't change the rally's signal for resuming, which is to open to and/or through 2086.00-2088.00. In fact, the overnight rally's 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement down to 2083.50 is constructive. And the overnight pessimism is potentially bullish from a contrarian perspective, following two consecutive overnight rallies that evaporated at the open. All of which the open must exploit immediately, or else find another window remains open to attacking last week's lows. First Trade... Exiting the open at 9:45 above 2088.00 would be likely to trigger the 2086.00 bias-up signal at 10:15. Exiting the open under 2084.50 would be unlikely to trigger bias-up.

Two aggressive rally legs met by big selling.

Similar to the overnight 12-point rally that had reacted down 9 points, a post-open 10-point surge was retraced, too. And then some. Almost 3 points under its origin.

Gapping up above 2086.00 was likely to extend through 2088.00 and resume the rally. The 2091.75 bias-up target was soon exceeded on the way to 2097.25. Being within the renewed bias-up target area, a lot of buying pressure was satisfied. But its reaction down slid all the way to the 2091.75 bias-up target. And then its support cratered by plunging down to 2084.25. The 2086.00 bias-up signal was overlapped at 10:15 to invoke the grace period. It was recovered through 10:30 to trigger late. Its target and renewed target have been met, so resuming the rally isn't required. But sellers did not regain control. I'm still giving every benefit of the doubt to resuming the rally. The balance of this morning might become a little choppier and less trending. But overbought RSIs at the 2097.25 high require an eventual retest. Meanwhile, the burden of proof is still on sellers.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2094.75 2093.50 ...would target  2100.25  2099.00 Bias-down: under  2087.25  2086.00 ...would target 2082.25  2081.00 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL 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.

But now, the rally is defending a gain. [SEE A SPECIAL MESSAGE AT THE END] The steep, deep reversal of the open's surge was proved to be an anomaly. Plunging 13 points in 30 minutes from 2097.25 to 2084.25 never even attacked negative territory. And the bias-up signal still triggered, albeit late. The noon hour's flat-to-higher ranging held a test of the afternoon's 2093.50 bias-up signal. This being a no-bias environment, the range's lower-end should be defined by its 2086.00 bias-down signal if tested. A dip just attacked 2088.00. All of which is well into in positive territory. The rally can resume when the no-bias environment begins lapsing. It's not required. But, just attempting to rally when 2:30 comes into view -- probing 2093.50 or higher -- would be increasingly likely to extend to fresh highs through the close. Otherwise, testing 2086.00-2088.00 into the bias environment exit would still be unlikely to trend down. But its rally effort would likely be limited to retesting the 2093.50 bias-up signal. SPECIAL NOTE: TODAY'S POST-MARKET WRAP WILL BEGIN AT 3:30, AND I WILL BE UNAVAILABLE DURING THE SESSION'S FINAL 15 MINUTES.

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 Dec Contract (EC, ETF: (FXE, UUP)) Several consecutive sessions of probing prior lows without breaking lower were possibly rejected by Tuesday's gap up into the range that trended higher intraday. Closing Wednesday above 1.0650 would signal a rally leg underway. Gold Feb Contract (GC, ETF: (GLD)) Tuesday initially extended the corrective bounce to 1074.00 from Friday's gap down, but it was retraced to close back in negative territory under 1065.00 "higher prior lows." Now that they've been tested as resistance, Friday's 1054.50 gap under all prior lows can be filled to form a durable bottom. Silver Mar Contract (SI, ETF: (SLV)) Gapping up Tuesday to probe above 14.20 was retraced to fluctuate around unchanged, despite there being no outstanding "unfinished business below" attracting price down. 30-year Treasury Jan Contract (US, ETF: (TLT)) One week of consolidating recent gains without buyers gaining any traction was nevertheless extended sharply higher by 2 points Tuesday, surging to the lower-end of 155-29/156-12 resistance. It should be tested fully so long as 155-00 now holds pullbacks as support.. Crude Oil Jan Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short)) Already having waited too long for the recent basing pattern to launch a rally, Tuesday morning's dip back toward the range's 41.00 low was unable to attract sponsorship for probing lower. And a fresh low has become required prior to a credible rally. Natural Gas Jan Contract (NG, ETF: (UNG, UNL)) Tuesday's fresh lows were recovered back into the recent 2.20-2.25 range, still not requiring any lower close before a credible recovery could begin.

Tuesday morning's 2097.25 high required a retest because both 1-minute and 3-minute RSIs were oversold there. But that's the only reason why sellers weren't taken seriously intraday. Just rallying at all post-open was a departure from the two prior overnight rallies that were reversed back down at the open. And the window has been open to resuming the rally. The session did rally, and not by a little. But its optimism remained tempered, which isn't bearish from a contrarian perspective. The bias environment exit and final hour entry weren't trending above the noon hour's high. And the 3:10-3:20 timing window only pierced a fresh high. So, a bigger rally remains possible. Only one obstacle remains. Ironically, that obstacle is Tuesday's very late surge to fresh session highs. Since buyers had not gained traction already, the late surge was sponsored by weak hands. It is vulnerable to correcting, at least to 2093.50 if not to 2091.00 -- if at all. A correction can be avoided by gapping up Wednesday. Details and other markets coverage are discussed in the post-market Wrap recording here: https://roddavid10.mitel-nhwc.com/join/kfyshmx

This evening, monitor overnight Globex trading in the chaRTroom at, while also helping again to test the new platform. Let me know about your experience... CLICK HERE.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above  2104.25 2103.00 ...would target  2111.00  2110.00 Bias-down: under  2096.50  2095.50 ...would target 2091.75  2090.50 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL 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.