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) Sunday night's new highs tested 3773.00, but already breaking back under 3761.00 pre-open had suggested a deeper post-open pullback underway. And it was amplified by opening at the rally's longstanding room for noise up to 3757.00-3758.00. Its violent rejection tested the 3654.25 lowest calculable pullback candidate at the noon hour's 3652.50 low. The afternoon's bounce tested 3699.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Further firming up to 3705.00 was already reacting down by midnight. Another reaction down greeted Europe's opens at 3678.00. The discount was appreciated, as price surged up to 3704.00. Three hours since then ranged narrowly near the earlier highs without probing higher. The lack of momentum has now dipped again to 3682.50. If, then... (notes to accompany the Tour recording) Sudden stability after a steep move isn't often strength. Last night's sideways ranging is the anxiousness I described, waiting for the "other shoe to drop" -- another country to enact lockdowns like the UK. There's no bullish reason to retest yesterday's 3651.50 low, so only its immediate and substantial reversal might avoid putting into play 3566.00. Triggering bias-up would be credible for extending higher this morning, but not yet reliable for resuming the ongoing rally. Bias Parameters... (linked here)

Drop shoe, drop. Surging 25 points at Europe's opens up to 3703.50 had stalled, which sellers exploited with a 30-point drop to 3673.00. The 3683.50 open surged 28 points to 3712.50, and stalled again. Sellers exploited the delay by preventing bias-up. The signal is late no-bias, and fresh lows since 10:30 help to confirm an offsetting test of the 3683.75 bias-down signal is in-play. Already, the 3688.50 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} gap-to-gap retrace is being tested. If tested during the no-bias window, the 3683.75 bias-down signal should define the window's lower-end. Probing under it prematurely would be no-bias trending that requires being retraced. Bounces should hold any test of 3700.50. Meanwhile, it's still likely to be difficult to reverse yesterday's trending while being anxious for more lockdowns.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3712.50 signal would target 3720.75. BIAS-DOWN: under 3695.50 signal would target 3683.75. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3722.00 3712.50 ...would target 3731.25 3720.75 Bias-down: under 3705.00 3695.50 ...would target 3994.25 3683.75 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Hovering under the morning's highs. This morning's late no-bias had put into play an offsetting test of its 3683.75 bias-down signal. It was barely attacked to 3687.00 before surging out of the bias window. Eking higher through the noon hour stopped short of this afternoon's 3712.50 bias-up signal, triggering no-bias. Now the bias-up signal is being tested. Probing beyond it during the next half-hour would be no-bias trending that requires being retraced. Hovering patiently to break higher on a timely basis would be credible for extending back up to the 3721.00 area's higher prior lows. Rallying first could extend higher anyway. There's higher unfinished business at Sunday night's high and on the way. But breaking lower under 3707.00 would start to signal this morning's lower unfinished business is in-play.

Monday's drop didn't extend Tuesday, but it was partially retraced 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} intraday. A pre-open dip to 3673.00 was quickly recovered by the open's surge up to 3714.00. Stalling there put into play a test of the morning's 3683.75 bias-down signal, which was only attacked to 3687.00 at the morning bias window low. Rallying through the noon hour and afternoon bias window got to 3730.00 where another stall reacted down to 3713.00. Holding a test of the morning's bias-up signal through 10:30 had created the objective at 3683.75, which was left outstanding to become unfinished business. The afternoon 3712.50 bias-up signal wasn't triggered, so probing above it during the no-bias window was no-bias trending that required retracing it. Coming to within 3 ticks neutralized its attraction. An intraday rally's objectives were last week's higher prior lows at 3721.00, and then potentially a 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retrace of Monday morning's downleg up to 3736.00. Its potential remains intact for any retest of Tuesday's 3730.00 high. But closing back under 3721.00 suggests that fresh highs would be produced by weak-handed sponsorship. Wednesday's session will be influenced by uncertainty during GA election reporting, and anxiousness for another lockdown shoe to drop. But the new unfinished business below, and also from above at Monday's 3758.50 gap up and 3773.00 Globex extreme must break either way to signal the next significant move. 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 3725.25 signal would target 3736.00. BIAS-DOWN: under 3707.00 signal would target 3697.00. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3734.75 3725.25 ...would target 3745.50 3736.00 Bias-down: under 3716.25 3707.00 ...would target 3706.25 3697.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE