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) Thursday's PM Traction setup and multiple multi-session instances of ineffectual pessimism were already greeting the Employment Situation report. Add to it a shallow Relentless overnight trending setup. Friday's first 15 minutes trended up to confirm their influences to be bullish, which the morning's bias-up signal soon joined. Thursday's 3692.00 unfinished business was the last bullish element to comprise a reliably bullish setup that surged from 3672.00 to 3693.25 at the morning's high. The balance of the session ranged choppily sideways, until a late surge up to 3700.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open spiked up to 3705.00 and immediately began reversing down. Friday morning's 3693.00 lower prior highs initially held as support. But Friday afternoon's 3685.50 last relative low was beig attacked by midnight. Europe's opens triggered its break, which slid sharply to attack 3672.00, natural support from Friday's open. Its reaction is now testing 3687.00. If, then... (notes to accompany the Tour recording) Last night's probe of new highs doesn't fulfill Friday's new trend extreme close, which instead expects an eventual higher close. Meanwhile the bullish context suggests that last night's dip is only temporary, although an immediate interim dip could last days or weeks. Lower prior highs down to 3672.00 are being influential overnight, but will likely be retested intraday if the open isn't recovering 3683.00. And not recovering from this pullback would next target 3631.00-3635.00... Comments on KODK are at the end of the Tour recording. Bias Parameters... (linked here)

Bias-down signal NOT touched post-open. The overnight dip to 3672.00 was testing structural support both at Friday's open, and at the lowest lower prior high. Retracing the dip's last downleg to the 3690.50 open consolidated above the 3688.00 bias-down signal. No-bias triggered. No post-open test of the bias-down signal means no requirement for an offsetting test of the 3707.50 bias-up signal. Not officially, despite overlapping the bias-down signal so near the open. So, I'm assuming an upside attraction, anyway. A fresh post-10:15 high now testing 3695.50 offers confirmation. Confirmation could be better -- that's also the upper-end of the 3693.50-3695.50 gap-to-gap proxy for Friday's gap fill. Meanwhile, RSIs aren't improving. A reaction down has room for noise alone down to the 3688.00 bias-down signal. I'll trail a sell signal, but the intraday trend otherwise remains up.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3701.00 signal would target 3709.50. BIAS-DOWN: under 3687.50 signal would target 3680.00. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3702.25 3701.00 ...would target 3710.75 3709.50 Bias-down: under 3688.75 3687.50 ...would target 3681.25 3680.00 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE

Attacking its target. Without a post-open test of this morning's bias-down signal, its level couldn't be rejected. And without rejecting the bias-down signal's test, an offsetting test of its bias-up signal was never put into play. So, bouncing up to 3696.00 only ranged narrowly into the noon hour. Breaking lower during the noon hour extended down in time to trigger the 3688.00 bias-down signal. Its 3680.00 bias-down target is now being attacked to within 2 ticks. It won't become unfinished business if not actually touched. Extending under 3680.00 could retest overnight lows down to 3669.00. None of which is required, only likely if this afternoon dip isn't rejected. Back above 3688.00 would start to signal momentum reversing up, not necessarily back into positive territory, but probably to fresh post-open highs.

Sunday night's initial blip-up above Friday's highs to 3705.00 began reversing down immediately, testing Friday's open down to 3672.00. Recovering from well under Monday's bias-down target to trigger no-bias was extended through the morning up to 3696.00. The noon hour's reversal triggered bias-down and tested its 3680.00 bias-down target held. The last two hours ranged widely down to 3677.00 and up to 3693.00. Monday afternoon may have formed a Double Bottom by closing back above the 3690.00 interim high. Only at the cash session close, and only by the first reaction up from the previous trend's extreme. Extending any higher at Tuesday's open would confirm, but there is otherwise vulnerability to trending down even deeper Tuesday. Pullback potential to lower prior highs down to 3672.00-3677.00 was fully utilized overnight. Its intraday retest could still hold, but another overnight retest probably doesn't, and extends deeper to the next lower prior highs at 3631.00-3635.00. All of which takes place in the context of Friday's new trend extreme close. It requires at least another new trend extreme close, suggesting this interim dip is only temporary. 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].

TUE A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3695.50 signal would target 3706.00. BIAS-DOWN: under 3684.25 signal would target 3674.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3696.75 3695.50 ...would target 3707.25 3706.00 Bias-down: under 3685.25 3684.25 ...would target 3675.00 3674.00 Signal status: LATE BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE