MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2082.50
2077.00
...would target 2087.75
2082.25
Bias-down: under 2070.25
2064.75
...would target 2063.75
2058.25
Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED FAQ INTRO VIDEOS #1 and #2 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.

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

CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)

Through the prior close...
Friday''s open gapped under 2077.00 and probed under 2073.00 down to 2062.00. A late surge originated both too late and too early to be sponsored by strong hands. It managed to end at 2073.00, but not above it, let alone above 2077.00. If not for being a Friday, which can be noise, then the close would have put into play the next downleg.

Overnight action''s new info...
Sunday night''s open barely delayed extending higher, and eventually touched 2080.75. Europe''s opens changed the sentiment, launching a drop to 2074.00. It lasted just over an hour, and then took less time to recover almost entirely. An errant tick just touched 2081.00.

If, then...
2081.00 is about 2 points short of being the difference between refueling sellers, and trapping them. Exiting the weekend with extreme sentiment can often be a sentiment extreme. It''s difficult enough already for mid-week overnight rallies to bleed into the following session. Gapping open sharply on Mondays has a small window to attract new sponsorship. Meanwhile, just temporarily correcting Friday''s break under 2077.00 has resistance up to at least 2082.50 that must be recovered almost immediately, or else retrace the gap and then some.

First Trade...
Exiting the open at 9:45 above2080.00 would be likely also to trigger the 2077.00 bias-up signal at 10:15. Exiting the open above 2084.25 would make the 2082.50 bias-up target likelier to be exceeded through 10:15 to renew the bias-up signal. Exiting the open under 2073.00 would be unlikely to trigger bias-up.

Gapping up above resistance extended through more of it.

The pre-open push through 2088.00 had ranged back down to only 2086.00 at the open. Post-open buying was overwhelming, pushing price higher quickly to attack 2092.00. Extending higher since then has attacked 2095.00.

Gapping up and extending higher through 9:45, without reversing down by 10:15, all but ensures fresh highs before noon. Generally not simply probing higher, but actual trending with a complex structure of higher highs and higher lows.

Obviously, we haven''t even considered taking a sell signal. Meanwhile, near-term resistance at 2095.25-2095.75 has been touched. Reacting down would likely test 2089.50-2090.50 and still recover to fresh morning highs.

The nearest sell signal is under 2088.00, which I calculated simply to illustrate how much room there is for a dip before even threatening to reverse momentum down.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2103.75
2098.25
...would target 2109.25
2104.00
Bias-down: under 2096.25
2091.00
...would target 2091.75
2086.25
Signal status: LATE NO-BIAS, TESTED BIAS-UP FAQ INTRO VIDEOS #1 and #2 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.

A daily summary of high-profile members of several complexes... View a more detailed discussion of each chart at the end of today''s Market Wrap.

Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
Friday''s recovery of the 1.0920-1.0945 bounce limit was extended Monday. While the decline may yet resume -- and remains likelier to resume than to reverse the trend up -- the door is open to a more substantial recovery. There is currently no active signal.

Gold Dec Contract (GC, ETF: (GLD))
Recovering back above 1083.00 and 1087.00 after probing under them intraday Friday was very bullish. That was confirmed by extending sharply higher from Monday''s open to probe above 1100.00 and 1105.00. The next confirmation is to close above 1112.00 upon touching it to put 1144.00 into play, rather than closing back under it.

Silver Sep Contract (SI, ETF: (SLV))
Extending sharply higher Monday after closing Friday above 14.75 has put into play 15.95-16.05 so long as 14.90 now holds as support.

30-year Treasury Sep Contract (US, ETF: (TLT))
Regardless of closing Friday above the 158-08 target, no higher target was put into play. Monday''s gap down to the 157-20 pullback limit extended lower from there to probe under the prior pullback limit at 156-24. The gap back up to Friday''s 158-18 close should be fulled at some point before a top can finish forming, but Monday''s drop can extend a little lower first down to 155-16.

Crude Oil Sep Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sunday night''s open gapped down to a fresh low testing 43.35 and firmed ahead of Monday''s open, then through it to almost attack the 45.15 bounce limit, with potential for extending a corrective bounce to 46.75.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Gapping up Monday to the 2.83 buy signal and ranging around it intraday doesn''t qualify as triggering it. But extending through 2.88 Tuesday would be unlikely unless a rally were underway.