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) Typically light pre-holiday volume limited Thursday's range, both overnight from 3678.50-3694.50, and intraday from 3680.00-3696.00. Only one set of bias parameters applied to the holiday-shortened session, and it triggered late bias-up. Its 3700.25 bias-up target became unfinished business despite a dive into the noon hour being recovered to fresh session highs AT 3696.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open gapped down to probe Thursday's low down to 3696.00. But only momentarily before snapping back up through Thursday's highs up to 3708.00. A brief dip recovered to fresh highs attacking 3720.00 by midnight. 4Ranging sideways through Europe's opens eventually surged 10 points up to 3726.50. Its reaction is dipping back into the earlier range. If, then... (notes to accompany the Tour recording) REMINDER: I'm away from the screens for this morning's bias environment. The chaRTroom remains open, and I'll return before noon... Retesting recent intraday and overnight highs at 3718.50-3724.00 was likely, although not required, and now it's done. Extending to the rally's 3750.00 target area is also likely, but not required. Trending up through the open or exiting it above overnight highs would be likely to extend higher this morning. Exiting the open at 9:45 under the 3701.00 bias-up signal or not triggering it 30 minutes later at 10:15 would be attracted to 3692.00, if not also the 3680.25 bias-down signal. Don't dismiss the potential for downside, even if only temporary downdrafts -- Among other factors, references to the "Santa Rally" are a little too prevalent from a contrarian perspective. Bias Parameters... (linked here)

MY SCHEDULE CHANGED LAST-MINUTE, AND I'M IN FRONT OF THE SCREENS FOR THE DAY PER USUAL. Gapping up to 3723.00 reacted down immediately to 3716.00. Trending up since then is now probing overnight highs up to 3729.00. That's without any predictive behaviors from the first 15 minutes -- neither bullish nor bearish. The next higher attraction is the 3731.00 area, then the 3739.00 area. But the only likelihood was already neutralized by probing overnight highs. The 3723.00 open is only obligatory support, but failing to hold could start to signal momentum reversing down. The gap-to-gap retracement at 3709.00-3711.00 would be a likely attraction below.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3733.25 signal would target 3742.00. BIAS-DOWN: under 3719.00 signal would target 3710.00. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3741.50 3733.25 ...would target 3750.25 3742.00 Bias-down: under 3727.50 3719.00 ...would target 3718.50 3710.00 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Missing momentum. A bullish gap-and-pause setup may be forming. The open gapped up, and the morning bias environment extended higher. The setup finishes forming by just hovering around the morning high this afternoon, or at least holding the 3721.00 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retrace back to the morning low. This morning's 3729.50 high was just touched while RSIs diverge negatively. Back under 3725.25 would start to signal momentum reversing down. The gap-and-pause setup is moot if a dip probed under 3721.00. The gap-and-pause setup would be moot also if the rally were to extend higher this afternoon. The 3733.25 bias-up signal would likely hold until the bias window begins lapsing. Breaking either signal prematurely would be no-bias trending that requires being retraced.

Sunday night's opening surge from Thursday's 3695.00 close had extended up to 3727.00 overnight. Dipping down to 3716.00 through the open was quickly reversed back up and extended to test 3732.00 at afternoon highs. The final hour slipped to 3725.00. A bullish gap-and-pause setup failed to form when the afternoon maintained its probe above the morning's high. This would have made a pullback likely Tuesday and then its recovery likely Wednesday. That visibility isn't available because buyers were impatient. Retests of recent 3718.50-3724.00 highs has now been neutralized. The rally's 3750.00 area target remains in-play, albeit without any particular timing requirement. But fulfilling it is imminent if Tuesday's first 15 minutes trends up. Meanwhile, more anecdotal observations are suggesting that the rally's sponsorship is getting thinner and its attention span is shortening. Not so substantially that it can't be neutralized by another downdraft. But a downdraft is only a vulnerability, and the trend's momentum otherwise remains up. 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 3733.25 signal would target 3742.00. BIAS-DOWN: under 3723.00 signal would target 3715.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3731.50 3733.25 ...would target 3750.25 3742.00 Bias-down: under 3731.50 3723.00 ...would target 3722.50 3715.00 Signal status: NO-BIAS, TESTED BOTH BIAS-UP PARAMETERS . BIAS VIDEOS... INTRO // EXAMPLE