Proper context can start the day with a solid win and make all the difference.

DAILY SCHEDULE First, watch the pre-open Tour recording HERE <<== Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close... Tuesday finally probed prior highs, and finally tested the rally's 2606.00 next objective. A 20-point overnight rally to 2600.25 had been retraced back down to 2580.25 before the open. But it repeated intraday to attack 2614.00. Another 20-point dip to 2594.00 was recovered to within 2 points of 2614.00, before reacting back down to settle within 3 ticks of 2606.00. Overnight action's new info... Choppy ranging tried breaking lower ever so slightly to touch 2602.50. It was enough of a stretch for the rubber band to snap back up and eventually probe fresh highs up to 2617.00. No improvement into or out of Europe's opens didn't help the rally effort, and price has since dipped back down to 2607.50. If, then... (notes to accompany the Tour recording) Essentially still overlapping 2606.00 during Tuesday's final minutes didn't allow closing above it to put into play the rally's next higher objective at 2656.00. And now room for noise up to 2626.00 could still be tested today without yet putting into play the next higher target. Meanwhile, having met 2656.00, the pattern's vulnerability to a collapse is at its greatest. Not yet reversing down by this afternoon would start replacing that vulnerability with a growing likelihood of extending to 2656.00. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2611.25 would be likely to trigger the 2608.50 bias-up signal at 10:15. Exiting the open under 2603.00 would be unlikely to trigger bias-up.

Gap up extends to fresh highs. The overnight pullback from its 2617.00 high touched 2607.00. Already recovering to open at 2615.00, the pre-open recovery extended higher to touch 2624.00. Double topping there never exploited the room for noise up to 2626.00, and reversed back down to touch the 2613.25 bias-up signal. This is a bias-up environment, so the 2613.25 bias-up signal should define the window's lower-end. Probing under it could start to gain traction regardless of the remaining potential upside. Back above 2617.75 would signal the rally had resumed, at least to retest the highs, presumably targeting 2626.00

WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2620.25 2620.75 ...would target 2626.25 2626.75 Bias-down: under 2610.50 2611.00 ...would target 2602.50 2603.00 Signal status: noN-BIAS, STILL TESTING BIAS-UP SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE 1. At 1:20, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target. 2. Not triggering either bias signal at 1:20 would be "no-bias," and the bias signals should define the bias environment's range. -- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias. 3. Touching the bias signal within 3 minutes either way of 1:20 would invoke a grace period through 1:30 to trigger a late signal. -- "Late" signals don't require testing the opposite bias signal, but it's still likely. 4. Still testing the bias signal at 1:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

Still hovering at the open's highs. This afternoon's 2670.75 bias-up signal was touched in time to invoke the grace period, and then touched in time again to avoid triggering. This is a noN-bias environment. Not bias-up with a target in-play. And not no-bias likely to hold resistance. Meanwhile, the open's surge to 2624.00 has yet to improve. A quick pullback had recovered to touch it, and a later recovery attacked it. Its retest would be likely to break higher, but no retest is required. So, just hovering vulnerable to reversing the trend down.Now exiting the afternoon bias environment in rally mode would be credible for extending higher. A second consecutive higher close would confirm yesterday's breakout.

Wednesday's 2614.75 gap up was just above Tuesday's high and quickly extended another 9 points. Price only ranged choppily sideways into the afternoon's bias environment, which triggered noN-bias. Not a lot of upside sponsorship, but no meaningful downside sponsorship. Nothing to prevent fresh highs from neutralizing the afternoon's 2626.75 bias-up target to within 3 ticks.

That fresh high behaved as if it were fulfilling buying pressure, as the last 60-90 minutes trended back down to 2615.25 into the cash session close. Futures extended down to 2612.50.

Futures settled 1-2 points back under Tuesday's high. Dipping that deeply any earlier wouldn't have confirmed Tuesday's breakout session, which now requires an eventual third higher close --  an eventual third higher close that would presumably be above 2626.00, and put into play the rally's next higher objective at 2656.00. None of which requires extending the rally without delay. Touching 2626.00 without closing above it reflects some weakness in the breakout's sponsorship. And Wednesday's final hour rejected the opportunity to signal buyers were gaining traction. A temporary detour down Thursday isn't required, but it wouldn't be surprising. Meanwhile, the confirmed breakout also qualifies as a bullish WedEX. Its influence applies to Friday afternoon (and Monday morning), and doesn't prevent a temporary detour down on Thursday. Gapping down Thursday under the ~2598.00 prior highs would be difficult and unusual, so it would be unlikely, but it would serve by proxy to invert the WedEX. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2619.00 2619.25 ...would target 2625.00 2625.25 Bias-down: under 2609.00 2609.50 ...would target 2600.50 2601.00 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE 1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target. 2. Not triggering either bias signal at 10:15 would be "no-bias," and the bias signals should define the bias environment's range. -- A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias. 3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal. -- "Late" signals don't require testing the opposite bias signal, but it's still likely. 4. Still testing the bias signal at 10:30 after invoking the grace period would trigger "noN-bias," with no bias influence.