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... (summary of last Market Wrap) Monday's 3114.50 close had extended down immediately after the Globex to 3108.00, and soon bounced to attack 3122.00. Little did the market know what awaited it. The next lower objective at 3100.00-3103.00 was already likely, but it was met by an 18-point plunge during a Trump presser in London. Failing to hold that test through the open next targeted 3078.00-3080.00, and the 3084.75 open quickly met it. Fluctuating around it down to 3069.50 was eventually retraced to trigger bias-up, and its 3093.00 target was probed momentarily by 2 points. No "unfinished business" was left outstanding. Overnight action's new info... (nearby chart is last intraday session and Globex) Ranging sideways was resisted by 3094.50 until suddenly sliding to greet Europe's opens at 3082.00. But only briefly before firming back into the range for an hour. Minutes later, an 18-point surge had touched 3108.50 in reaction to a China trade deal headline. Its reaction down to 3098.00 was largely recovered, as has another shallower dip. If, then... (notes to accompany the Tour recording) Tuesday morning's 3069.50 low print doesn't require being retested, nor does the 3078.00-3080.00 area that was tested throughout Tuesday morning. But each becomes an attraction if 3100.00-3103.00 holds as resistance post-open, and Tuesday afternoon's 3095.00 doesn't hold as support. And 3103.00 isn't assured of being recovered post-open despite now having ranged around it for several hours overnight. The 3100.00-3103.00 represents the 38.2-61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} Gap2Gap retracement back to Monday's close, which often holds its initial test. It is also coincidentally the 38.2-61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement of the two-week old Complex Triangle that had attracted price down. First Trade... (preliminary indications for the Bias parameters) [CORRECTION: This morning's bias-up target is 3103.00, displayed accurately in the chaRTroom...] Exiting the open at 9:45 above 3105.00 would be likely also to exceed the 3103.00 bias-up target at 10:15 to renew the bias-up signal. Exiting the open at 9:45 above 3098.25 would be likely at least to trigger the 3195.50 bias-up signal at 10:15. Exiting the open under 3090.25 would be unlikely to trigger bias-up.

Hold it, or hold on. The pattern of testing 3107.00 resistance and reacting down was repeated into the open, dipping back into the 3100.00-3103.00 area attacking 3101.00. This dip resolved differently, snapping back up through the overnight highs to 3112.00. I had wanted to sell a test of 3111.00 upon it reacting down deeply enough. But my nearest sell signal wasn't touched before a bullish Flag continuation pattern formed. And its breakout extended up to 3117.50. That last surge coincided with the Congressional hearings' opening statements. Flat-to-lower ranging since then is attacking 3111.00 as support. Its break could extend down to 3105.50 without reversing the recovery's traction. Any lower would isolate the post-open rally and reverse the trend back down.

WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3121.00 3120.75 ...would target 3128.75 3128.50 Bias-down: under 3111.25 3111.00 ...would target 3104.00 3103.75 Signal status: NO-BIAS . 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.

FOR lack of trying. Trending overnight into an opening gap, and trending through the open, can form a Gap-and-Go setup. Maintaining the post-open trending into the noon hour then usually hovers through the close at the morning's extreme. The 3105.25 open's 4-point reaction down remained well into positive territory and quickly resumed rallying to 3117.50. The balance of the morning ranged sideways back down to 3112.00. The noon hour's range was narrower. And now the afternoon has triggered no-bias. Trending again today is unlikely, so fresh highs would be unlikely, or at least likely to reverse back down. Similarly, while a deeper pullback is not required, it would likely recover -- probably from a test of 3105.50 if tested.

Tuesday night's 13-point dip down to 3082.00 into Europe's opens only stretched the rubber band. China trade deal headlines triggered its snap back up to 3108.50. Wednesday's open triggered another upleg to 3117.50 that held up through the bias environment. This is a Gap-and-Go setup, which tends to hover at session extremes through the close, or to retrace trending attempts back into the range. Probing a fresh high up to 3119.50 was reversed into the final hour to attack 3108.00. The noon hour's 3111.50 low was recovered into the close. Without afternoon momentum, extending any higher Thursday morning isn't any likelier. So, extending higher Thursday morning is likely to begin by gapping up. And not gapping up isn't likely to extend higher Thursday morning. Not extending higher Thursday morning isn't any likelier to reverse down, not even likelier just to temporarily back-and-fill. But backing-and-filling would have room down to 3100.00-3103.00 before suggesting the bounce from Tuesday morning's low has ended. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3117.75 3117.25 ...would target 3125.25 3124.75 Bias-down: under 3109.50 3109.25 ...would target 3100.75 3100.50 Signal status: BIAS-DOWN, TESTED BIAS-UP SIGNAL . 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.