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) Monday's intraday and overnight dips had rewarded their buyers only with being retraced to test 3852.00, but not reversed. So, buyers weren't very helpful with Tuesday night's dip, or with Wednesday's follow-through. Gapping down 36 points to 3806.00 eventually extended down another 100 points through the close, and the lowest levels in 3 weeks. Overnight action's new info... (nearby chart is last intraday session and Globex) Wednesday's post-close plunge was corrected into the Globex open, then quickly retested down to 3703.50. Another, bigger bounce to 3750.00 drifted back down through midnight and Europe's opens to touch yesterday's low. One more bounce is now almost attacking overnight highs. If, then... (notes to accompany the Tour recording) A bearish PM Traction setup formed yesterday, which expects the next morning's bias window to trend down. This doesn't preclude gapping up first, or even extending higher during the open. But discernible trending up through the first-15 minutes could invalidate the bearish setup. The likely next significant lower attraction is 3695.00-3700.00. Its test isn't necessary before launching a recovery, or at least a significant corrective bounce. Bouncing would find its challenges at the bias-up parameters, 3757.00 and 3777.00. Bias Parameters... (linked here)

Bearish PM Traction setup invalidated. Yesterday afternoon's bearish PM Traction setup had signaled this morning's bias window would trend down. It could be invalidated by discernible uptrending through today's first-15 minutes. Which it did. To be sure, the uptrending is a little suspect. Its higher low compares to the open's blip-down. And its higher high is a 2-minute 13-point surge that seems like a headline reaction, but none seem to coincide. Neither the 10:00 or 10:30 checkpoints disagreed, and the latter even extended higher. Reliable discernible uptrending would not only invalidate the bearish signal, but invert it to influence the bias window bullishly. So, I'm giving buy signals a benefit of the doubt with upside potential to 3815.00 and 3825.25, but still willing to give a sell signal room to retest the 3767.00 open.

THU P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3815.25 signal would target 3825.25. BIAS-DOWN: under 3797.00 signal would target 3788.00. NO-BIAS: between both signals. THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3822.75 3815.25 ...would target 3832.75 3825.25 Bias-down: under 3804.25 3797.00 ...would target 3795.25 3788.00 Signal status: LATE BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE

Higher highs could be well rewarded. If yesterday afternoon's bearish PM Traction setup was inverted, then it was well rewarded by entering the noon hour at session highs at 3814.00. Extending higher through the noon hour up to 3823.00 held up enough to trigger late bias-up. Fresh session highs would help to confirm the late signal, more so than just the 2 ticks being touched now up to 3823.50. The 3825.25 bias-up target is in-play, potentially also the Tue-Wed 3829.00 gap-to-gap proxy. And given enough wind at its back, perhaps also filling the actual gap back to Tuesday's 3842.50 cash session close. Back under 3812.00 could still detour back down into the opening range down to 3781.00, but anything more bearish would depend on the pattern that starts breaking lower.

Thursday's gap up to 3767.00 trended up discernibly through the first-15 minutes to invert Wednesday's bearish PM Traction setup. The bias window's uptrend extended up through the noon hour to 3823.50 and triggered late bias-up. But its 3825.25 target became unfinished business, and the balance of the session trended back down to 3765.50 through the close. The high was 1 tick short of the 3-6 tick margin for neutralizing the 3825.25 bias-up target. Its unfinished business could be left outstanding indefinitely no matter the margin, and no less so in this situation. But its eventual test would be likely to include 3829.00 if not also target new highs. 3756.00-3760.25 is the gap-to-gap between Wed-Thu, so the last-minute slide still has a little room below before suggesting a downtrending session. The "Wall Street Bets" saga is not going to be a catalyst directly for any broader market move. But institutional and regulatory actions that change the playing field could make other players less comfortable being long into the weekend. 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 3788.00 signal would target 3800.50. BIAS-DOWN: under 3770.50 signal would target 3757.75. NO-BIAS: between both signals. FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3795.00 3788.00 ...would target 3807.50 3800.50 Bias-down: under 3776.50 3770.50 ...would target 3763.75 3757.75 Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE