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

DAILY SCHEDULE Watch the pre-open Tour recording* HERE <<== *Manually open Adobe Connect (install on Windows or Mac), then paste the recording's link there. chaRTroom** is now open... Pre-open update is at 9:15 ET **This is NOT the direct chaRTroom link

Through the prior close... (summary of last Market Wrap) A funny thing happened on the way to the pullback... Friday's passive retest of Wednesday's ~3396.00 prior high continued the ongoing pattern's range. But an organic pullback coming out of expiration weekend was hijacked by the favorable reaction to Sunday evening's anti-virus headline. Relentless overnight trending up to 3424.00 stopped short of its potential to 3428.75. But the final minute tested it, ending the narrowly ranging session with a break higher to 3429.50. Overnight action's new info... (nearby chart is last intraday session and Globex) Favorable China trade headlines at Asia's opens triggered another upleg to 3446.00. Its complexity qualified for forming a new Globex trend extreme. Flat-to-lower ranging through midnight eventually blipped-up to attack 3449.00 at Europe's opens. But that only stretched the rubber band, which has snapped back down to 3436.50. If, then... (notes to accompany the Tour recording) The pattern of optimism observed into expiration not only remains intact, but measurements suggest that its sponsorship is the same: Yesterday's shallow pullback to 3410.00 had held the open's 38.2{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} gap-to-gap retracement. Last night's high attacking 3449.00 peaked at the gap-to-gap's 100{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} projection, and its reaction down is holding the same setup's 3437.50 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} projection as support. So much recent productivity, so limited to the overnight, keeps the rally inhibited from extending intraday again. The attraction to its new Globex trend extreme could help to attract price higher unless the open trend's down. Regardless, the alternation rule suggests that this morning is less likely today than was yesterday morning to only range sideways after gapping up, because yesterday morning only ranged sideways after gapping up The next higher objective would be 3455.00, and yesterday's 3428.00 close is the likeliest attraction below. We'll monitor AAPL and TSLA for their own intraday patterns that might influence broader market sentiment. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3445.00 would likely to exceed the 3443.00 bias-up target to renew the bias-up signal. Exiting the open above 3438.00 would be likely at least to trigger the 3433.75 bias-up signal. Exiting the open under 3428.00 would be unlikely to trigger bias-up.

Multiple bearish setups form into and out of the open. My pre-open update in the chaRTroom noted the open was indicated on the cusp of the overnight high's orbit at or around 3448.50. The overnight high's relevance is that it qualifies as a new Globex trend extreme requiring intraday retest. The orbit wouldn't be relevant if the overnight high didn't require a retest. Opening in its orbit would make its retest likelier sooner rather than later. Meanwhile, sell signals wouldn't be compelling.

Price then slipped aggressively to open at 3435.00, decisively under the overnight high's orbit. Sell signals became more compelling, and at least more capable of being immediately productive.

Opening under the overnight high's orbit made the 3433.50 sell signal compelling. Not holding the 3431.00 gap-to-gap support made the sell signal likelier to be probe negative territory. And the opening 15 minutes lower highs and lower lows helped to anticipate bounce limit tests would fail. Having triggered no-bias after testing the bias-up signal, and offsetting test of the 3418.00 bias-down signal is in-play. The first hour did trend down relentlessly to 3422.50, and the downtrend of lower lows and lower highs has persisted, So, bounces remain likely to fail, even the one now violating its bounce limit up to 3428.75. I'll start considering a buy signals when the bias environment comes within view of lapsing.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3433.75 signal would target 3442.50. BIAS-DOWN: under 3420.50 signal would target 3412.25. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3437.25 3433.75 ...would target 3446.00 3442.50 Bias-down: under 3424.00 3420.50 ...would target 3415.75 3412.25 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.

Unfinished business below. This morning's drop tested 3422.00. The bias environment exit also tested 3422.00 into the noon hour, after an interim surge up to 3434.00. The afternoon bias environment entry is attacking 3434.00. The afternoon's 3433.75 bias-up signal didn't trigger. So an inflection point at 3432.50 has been holding its test as resistance. Probing it above 3435.00 would be likely to trend up regardless of this being a no-bias environment. Meanwhile, back under 3428.00 would signal that this morning's decline was resuming. Unfinished business at its 3418.00 would be the likely objective, if not deeper. Unfinished business at the overnight high remains outstanding, but not currently in-play.

Monday's late surge to its 3428.75 target had barely consolidated before US-China trade headlines triggered another upleg to 3446.00-3449.00. The new Globex trend extreme coming out of Europe's opens was retraced beyond its orbit at the 3435.00 open, extending the pullback to the morning's test and retest of 3422.00. The morning's 3418.00 bias objective became unfinished business. Flat-to-higher ranging through the afternoon attacked 3441.00 through the cash session close, and 3445.00 through the futures close. Tuesday afternoon's rally was a stealth retracement, probing new intraday highs that barely attacked overnight highs. Carving out another multi-session range so quickly would open the door to another corrective dip, so the rally's health depends on closing higher Wednesday. Wednesday morning should be given help from Tuesday afternoon's PM Traction setup. Exiting the bias window above the noon hour high, and entering the final hour higher, suggests the next morning's bias window will trend up, too. Meanwhile, flat-to-lower ranging by AAPL and TSLA remains on-schedule for their expected pullbacks ahead of Monday's splits. That schedule includes renewed optimism becoming obvious sometime between Wednesday afternoon and Thursday morning. Their pullbacks affected NDX on Monday, and only temporarily Tuesday. Another downdraft Wednesday morning could set a defensive tone. Meanwhile, the S&Ps new high close seems to have benefited from the lack of competition. See details and other markets coverage in the post-market Wrap recording* here. *Manually open Adobe Connect (install on Windows or Mac), then paste the recording's link there. Monitor overnight Globex trading in the chaRTroom here [NOT the direct link].

WED A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3444.00 signal would target 3453.75. BIAS-DOWN: under 3435.75 signal would target 3425.25. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3447.50 3444.00 ...would target 3457.25 3453.75 Bias-down: under 3439.25 3435.75 ...would target 3428.75 3425.25 Signal status: BIAS-UP . 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.