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) Two relatively sizeable intraday swings developed Wednesday, especially if including overnight ranging. Tuesday night's 3805.00 high was reversed down to 3776.50. Wednesday's recovery persisted through the afternoon bias window to its 3813.50 high. The balance of the session backed-and-filled down to 3801.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Immediately recovering yesterday's highs extended to test 3804.00. Ranging sideways through both midnight and Europe's opens fluctuated around yesterday's highs. Currently the ranging's lower-end -- and the 3805.00 earlier Globex low -- is now being tested as support. If, then... (notes to accompany the Tour recording) After two consecutive sessions opened and closed at the same level, yesterday's close and now today's open will have left that ranging behind. The overnight range is in proximity to last Friday's 3824.50 high, making its retest among likely targets for any buy signal. Alternatively, a bearish Globex-flip or Isolation setup could form by exiting the open under 3802.50-3805.00 after having probed yesterday's high overnight. Failing an attempt to form the bearish setups would be as bullish as they could have been bearish. Meanwhile, having chipped away at relevant levels below during the past week's backing-and-filling, another downdraft could extend to 3757.00. Bias Parameters... (linked here)

NOTE: I'M AWAY FROM SCREENS TODAY 12:15-1:15 ET. The overnight range's last dip held its test of the earlier Globex low down to 3804.25, so the Globex-flip and Isolation setups never played. Gapping up opened at the 3810.25 bias-up signal, and ranged choppily sideways through the first 15 minutes. Higher highs since then include 3816.00, still a couple of points short of the overnight high. But also just a couple of ticks short of last Friday morning's high. Only last Friday afternoon's high has yet to be retested. And possibly broken. A sudden collapse just attacked 3808.00, presumably a headline's knee-jerk reaction that is quickly recovering. Another such downdraft would more likely search out support at lower levels. The interim low between Friday's highs was probed since then. Friday morning's lower high is a pivotal high, and retracing it from under the interim low all but requires testing Friday afternoon's actual high. So, touching Friday morning's 3816.50 pivotal high would require eventually touching Friday afternoon's 3823.25 high -- another piece of unfinished business that offers context for any dip being temporary.

THU P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3813.75 signal would target 3820.75. BIAS-DOWN: under 3802.75 signal would target 3790.75. NO-BIAS: between both signals. THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3822.50 3813.75 ...would target 3829.50 3820.75 Bias-down: under 3810.50 3802.75 ...would target 3798.50 3790.75 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Unfinished business above. Triggering this morning's late bias-up didn't extend any higher than pre-10:15 highs. But neither was the bias window exited in decline. So, its 3819.00 bias-up target becomes unfinished business. Without buyers exploiting the upside attraction by noon, a search for stronger-handed sponsorship was needed. Attacking the afternoon's 3802.75 bias-down signal to within 1 tick at least triggered a reaction to within 1 point of the 3813.75 bias-up signal. But no follow-through. The noon hour dip might not have sufficed. A lower low might be needed, even if done by no-bias trending that would require being recovered. Meanwhile, firming into the bias window lapse would still be vulnerable to breaking higher aggressively.

Wednesday night's attack on 3818.00 was the highest levels since the week-old ranging began to form. Except for last Friday's late probe up to 3824.50, which still requires a higher close. But Thursday morning's peaked at 3816.00, holding up long enough to trigger bias-up targeting 3819.00 that became unfinished business. Flat-to-lower ranging gave way as the afternoon bias window lapsed, falling to 3786.00. Both the afternoon bias window exit and final hour entry held tests of the noon hour low. So there was no bearish traction to be confirmed by finally trending down through the 3:10-3:20 proxy window. This suggests the late drop was sponsored by weak hands. Extending deeper anyway Friday could find support at 3771.00 and 3758.00, then 3750.00. None of which is bullish to still be testing at this stage, unless recovered intraday. Already rallying into Friday's expiration open could still find resistance up to 3803.50 before confirming a recovery underway. 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].

FRI A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3796.50 signal would target 3803.75. BIAS-DOWN: under 3784.50 signal would target 3776.00. NO-BIAS: between both signals. FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3804.50 3796.50 ...would target 3811.75 3803.75 Bias-down: under 3792.25 3784.50 ...would target 3783.75 3776.00 Signal status: BIAS-DOWN, BIAS-DOWN TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE