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) Rallying out of Monday's close was done by midnight. Ranging sideways into Tuesday's 3744.00 open didn't attract new sponsorship, and the rest of the open slid to 3724.00. The sudden stability of ranging sideways through the entire bias environment was not strength. So the noon hour broke lower to fulfill the morning's  3715.00 objective. The balance of the session ranged sideways through the 3721.00 cash session close. Overnight action's new info... (nearby chart is last intraday session and Globex) Initial consolidation back down to 3716.50 soon launched a rally. Extending relentlessly through midnight peaked abruptly at 3737.50. Ranging sideways since then (like the prior night) has been supported by the 3730.50 bias-up signal. If, then... (notes to accompany the Tour recording) Monday night's initial rally had also stopped suddenly at midnight, and then also ranged sideways into Tuesday's open. Greeting Wednesday's open with a similar setup should resolve differently. So, greeting the open either at fresh overnight highs or already dipping would keep alive potential for extending down this morning. And trending down this morning would be likely if the first 15 minutes trends down, especially if also breaking under 3724.00-3727.00. Extending the overnight bounce could marginalize sellers into the weekend, with upside attractions at 3744.00 and 3748.00, and the rally's next higher objectives at 3750.00, if not also 3757.00-3758.00. Bias Parameters... (linked here)

Still fluctuating around the open. Bias-up triggered late, after the opening windows all avoided downtrending. Sellers seem marginalized, and we would have that confidence, but for 1-2 conditions yet to develop. A bullish condition would probe the 3738.00 overnight highs. This tends to be a significant marker of whether intraday sponsorship is attracted to selling or buying the overnight rally. So far, the post-open high has tested only 3636.00. Short of that bullish condition, at least probing the pre-10:15 high after 10:30 would offset the bias-up signal's lateness. So, outlasting sellers through the open, let alone through the morning, would further undermine any new downleg from extending. And fresh highs would be bullish, likely to gravitate higher into the close. Otherwise, back under 3728.00 would target a gap-fill back down to yesterday's 3721.00 cash session close, but its break must be maintained through a timing window to gain traction.

WED P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3737.25 signal would target 3746.25. BIAS-DOWN: under 3724.25 signal would target 3717.75. NO-BIAS: between both signals. WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3746.00 3737.25 ...would target 3755.00 3746.25 Bias-down: under 3733.25 3724.25 ...would target 3726.75 3717.75 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Ranging very narrowly. This morning's bias-up triggered, but its 3739.75 bias-up target was left outstanding to become unfinished business. Add it to 3744.00 and 3748.00 from yesterday, which should be retested up to at least 3750.00. The range has been narrowing since then, throughout the morning bias environment and noon hour. Thinning participation tend to have that effect, and impending 3-day weekends tend to affect participation. Not probing fresh post-10:15 highs this morning has already warned that upside momentum is lacking. Even if the pattern were assured to resolve up, there's still room for noise just to fill the gap back down to yesterday's 3721.00 cash session close.

Not extending Tuesday's decline through Wednesday's open had already all but marginalized sellers. Confidence suffered from not yet probing the 3738.00 overnight high. Selling was muted or brief, ranging sideways through the morning, and holding the gap-fill back down to Tuesday's 3721.00 cash session close. A late surge was retraced back to the low through the close. Maintaining a gap up Thursday above Wednesday afternoon's 3730.00 high would almost qualify as a session-long rally. The last session prior to a 3-day weekend isn't very reliable, but not yet trending down through Thursday's open would still be more vulnerable to gravitating higher. Wednesday added new unfinished business at 3739.75, joining 3744.00 and 3748.00. Probing fresh lows for the week can now test 3706.00 as noise. Lower lows have room down to 3701.00 before being unlikely to recover soon. 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].

THU A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3733.25 signal would target 3741.50. BIAS-DOWN: under 3720.00 signal would target 3712.25. NO-BIAS: between both signals. THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3742.00 3733.25 ...would target 3750.25 3741.50 Bias-down: under 3729.00 3720.00 ...would target 3721.25 3712.25 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE