REMINDER: I'm away from the screens through Friday morning. Market Tour and First Trade will be recorded and sent, but the afternoon Bias Parameters may be delayed. Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE First, watch the pre-open Tour recording HERE <<== Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close... "Through the prior close" tells half the story of yesterday's session, and also all of it. PART ONE: Thursday's 22-point gap up from Wednesday's 2657.75 cash session close was retraced relatively little down to 2668.00 before extending higher. And higher, and higher -- testing 2723.50 through the afternoon bias environment exit, and retesting it through the proxy window. The afternoon's fresh highs were a bias-down rally that was doomed to failure, but could have extended the detour another 12 points higher. Eventually, the reaction down was triggered under 2715.50, but its timing was too late to rely on being more than brief and/or shallow. At least, through the cash session close, which dipped to 2701.00, retracing 38.2{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of the post-open rally. PART TWO: However, AMZN and then GOOG earnings reactions triggered a plunge to 2684.00 through the futures close, retracing 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of the post-open rally. Overnight action's new info... A brief consolidation resolved down sharply to 2668.00, retracing Thursday's post-open dip. Lower lows into midnight touched 2657.00. Bouncing greeted Europe's opens at 2777.50, but the reception was soft and then softer. Attacking the 2657.00 earlier lows soon gave way to new overnight lows at 2646.00. Its reaction is testing the 2657.00 earlier lows as resistance. If, then... (notes to accompany the Tour recording) Thursday afternoon's rally gained traction through the bias environment exit and final hour's entry. Which is invalidated closing or gapping under the bias environment 2693.00 low. The cash session held, but futures did not. Expending the energy to recover it through the open could be rewarded better than yesterday's intraday rally. Or, else. Else being a couple of major disappointments reversing a major expending of buying pressure to attack a major prior low -- all with Friday Factors bearing down. How ugly could this get if not reversing through the open, or if the morning  doesn't recover a brief probe under Wednesday's lows? Majorly. First Trade... [Click here to view the Bias parameters] Being based on the prior session's cash session close, this morning's parameters are already antiquated. The next lower objective at 2654.00 is being tested, with room down to 2637.25 and 2632.00 before threatening 2595.00 and lower.

FRI afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2669.00 2669.50 ...would target 2679.00 2679.50 Bias-down: under 2654.25 2654.75 ...would target 2648.50 2649.00 Signal status: waiting for trigger . NEW: BIAS VIDEOS... INTRO // EXAMPLE 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.

I missed the fun. Especially for a Friday. Already having extended Thursday's 2707.00 cash session close to greet Globex at 2688.00, overnight action extended down to 2646.00. Bouncing 26 points into and out of the open quickly peaked at 2672.00, then plunged 44 points to 2627.50. That's a lot. But not necessarily too much to continue falling further. It didn't -- not for the morning, and not for the day -- as the bias environment was exited at 11:30 above its 2647.00 entry. The interim probe was isolated, which tends to hold on Friday mornings. The recovery extended to 2692.00 as the noon hour ended before another drop attacked 2641.00. The morning's isolation absorbed the drop and the balance of the session firmed. Friday developed entirely in negative territory, probing a prior low but not closing under it. Ineffectual Pessimism that could launch a counter-trend bounce if Monday's open can isolate Friday's session. Otherwise, greeting the new week in decline could resume the decline -- and compensate for Friday's delay. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2667.75 2668.25 ...would target 2677.00 2677.50 Bias-down: under 2647.50 2648.00 ...would target 2640.50 2641.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . NEW: BIAS VIDEOS... INTRO // EXAMPLE 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.