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) The relatively muted reaction to Friday's Employment Situation report had signaled Equilibrium. The morning fluctuated choppily sideways around 3806.50-3809.00 to fulfill the setup. So did the morning, dipping to 3775.00 and recovering up to 3823.25. Oversold RSIs were left outstanding at the low, while the new trend extreme Friday close now requires at least an eventual higher close. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open gapped down slightly. But it slid relentlessly to retrace Friday's final hour rally back down to its 3791.50 origin. Ranging sideways through midnight and Europe's opens was resisted around 3802.00 lows, and still persist. If, then... (notes to accompany the Tour recording) Friday's new trend extreme close requires an eventual higher close, suggesting that any interim downleg is only temporary. Anyway, just retracing Friday's final hour rally overnight hasn't damaged the rally's chart. And the overnight dip is also a 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retrace back to Friday's low can be constructive -- if held through the open. Testing 3784.00 would still be credible for recovering, but too much deeper -- i.e. buyers not exploiting the dip -- would put the market on defense, perhaps for a multi-session pullback. Bias Parameters... (linked here)

Holding on, but still negative. A new break under 3790.00-3792.00 extended down to the critical 3782.00-3784.00 area we had discussed during Market Tour. Support there was even probed down to 3776.50. But only momentarily. Its reaction greeted the open back within 3782.00-3784.00, which held as support. It has since extended to attack 3803.00. Holding 3782.00-3784.00 support undermines sellers, but the reaction is still testing the 3796.25 bias-down target as resistance. And the bias-down signal triggered. Bouncing during the bias-down window has room up to the 3806.50 bias-down signal. Just recovering 3801.00 (now being tested) would already further undermine sellers. But I'll be raising sell signals aggressively along the way, while this is still a bias-down window.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3811.00 signal would target 3821.00. BIAS-DOWN: under 3793.50 signal would target 3784.25. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3819.50 3811.00 ...would target 3829.50 3821.00 Bias-down: under 3802.00 3793.50 ...would target 3792.75 3784.25 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Using the window for backing-and-filling. This morning's recovery from 3776.50 extended through the noon hour up to 3810.50. Stopping 2 ticks short of the afternoon bias-up signal has triggered no-bias. Already its reaction tested the 3793.50 bias-down signal. Despite bouncing, simultaneously oversold RSIs at the low require its retest. Its retest would likely touch 3791.25. Trending down after the bias window lapses could retest overnight lows. Meanwhile, the bias window isn't yet lapsing. Premature fresh lows would be no-bias trending that requires being retraced -- potentially back up to the 3805.00 1:20 print. The nearest indication of another upleg today would be back above 3801.00.

Sunday night's reversal attacked Friday afternoon's 3775.00 low to within 6 ticks before Monday's open. Bouncing through the noon hour got to 3810.50. The afternoon reversal attacked the morning low to within 4-5 points at 3885.50. Monday's entire session was encompassed by Friday's range to form an inside day. No new objectives or attractions were left outstanding. Monday afternoon's bias-up signal was attacked to within 2 ticks, with plenty of time to trigger. Its reaction began forming a potentially bearish PM Traction setup, didn't complete. Meanwhile, tests of multiple reaction limits were absorbed 1-3 times throughout the day. So, rather than being a bunch of noise, Monday's price action reflected substantial buying and selling pressure that is likely to break sharply in either direction. 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 3802.00 signal would target 3812.00. BIAS-DOWN: under 3788.00 signal would target 3777.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3810.50 3802.00 ...would target 3820.50 3812.00 Bias-down: under 3796.25 3788.00 ...would target 3785.25 3777.00 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE