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) Thursday's close back under 3341.00-3355.00 down to 3317.00 had targeted lower lows, but the overnight rallied up to 3365.00. Already reacting down into Friday's open extended to 3325.50, but the morning only bounced back above 3341.00-3355.00. Sliding sharply through the noon hour finally fulfilled the bearish setups down to 3298.00. Another bounce held another test of 3341.00 to end essentially unchanged at 3329.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's gap up to 3341.00 extended higher relentlessly up to probe above Friday's 3358.50 intraday higher, testing and retesting 3374.50 into Europe's opens. Diverging negatively on the retest reacted back down to test and retest 3355.00 as support, now bouncing again. If, then... (notes to accompany the Tour recording) Despite closing again under 3341.00-3355.00 Friday, closing unchanged had opened the door to another corrective bounce. Despite being the less likely path down, the overnight rally is trying to follow the corrective bounce path, which comes with a big grain of salt and a long list of stipulations. Nevertheless, maintaining a gap up to and or through 3341.00-3355.00 could give the correction at least this morning to at least delay resolving down. Already resolving down through the open could find an air pocket under 3341.00 on the way down to 3296.00-3299.00, if not also to probe under 3286.00. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3360.25 would be likely also to exceed the 3354.25 bias-up target to renew the bias-up signal. Exiting the open above 3344.00 would be likely at least to trigger the 3341.75 bias-up signal. Exiting the open under 3337.50 would be unlikely to trigger bias-up.

And then some. The overnight probe above 3355.00 held its test as support, not even threatening to retrace its 3341.00 counterpart. The open's blip-up to 3368.50 reacted down 10 points, but held support. Sellers retaking control would have been immediately productive, at least that was their most credible path. And their effort stopped short. Meanwhile, the overnight rally resumed. The first half-hour extended through the 3375.00 overnight high and the first hour got up to 3392.50. This morning's bias-up is clearly renewed. Back under 3384.25 (now being tested) would target 3376.00-3377.00, and above 3389.50 would resume the rally next targeting 3401.50 or 3407.00. The afternoon's potential for resuming the decline to whatever degree remains intact, albeit not required. And the least likely afternoon pattern would only range sideways.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3393.50 signal would target 3407.00. BIAS-DOWN: under 3381.00 signal would target 3370.50. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3403.75 3393.50 ...would target 3417.25 3407.00 Bias-down: under 3391.00 3381.00 ...would target 3380.50 3370.50 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE

Target met. And holding? Correcting this first hour's surge back down to 3376.00-3377.00 was attempted during this morning's bias-up environment. The shallow dip was supported by impatient buyers, and they were sorely missed just when they were needed most -- attacking the 3392.50 high.

The noon hour drifted back down to the earlier shallow correction's 3381.00 low, now also this afternoon's bias-down signal. A blip-up to 3387.50 reacted down to trigger bias-down and fulfill the 3370.50 bias-down target.

RSIs diverged positively at the 3369.75 bias-down target's retest. A near-term low is likely forming. The setup's inflection above 3376.50 is being tested. Still being a bias-down environment, its 3381.00 bias-down signal should hold as resistance if tested. Probing above it would require being retraced. One exception would be also exiting the bias environment above its 3393.50 bias-up signal, for having fulfilled the target before 1:30.

Friday's second consecutive close under 3341.00-3355.00 was rejected for the morning by gapping up above it Mnoday. Extending sharply higher through the first hour got to 3392.50. Trending back down came within 1 point of retracing the 3363.50 open. The last half-hour's bounce up to 3387.00 ended back down at 3372.00. Last Wednesday-Thursday's 3314.00 high has been followed already by two lower lows as of Friday. Also by two lower highs, unless Monday's bounce is extended Tuesday. Otherwise, the downtrend from Wednesday's high remains intact. And the ongoing decline already may have resumed, with Monday's uptrending isolated to the morning as I described on Saturday. Turnabout is fair-play, if not also poetic justice. Gapping down Tuesday back under 3341.00-3355.00 would be credible confirmation that Monday afternoon's shallow dip was only slow-playing the decline's resumption. Greeting Tuesday's open back at or above Monday's highs could resume Monday morning's surge. Not much hesitation would be allowed without still being vulnerable to extending Monday afternoon's pullback into a more impressive decline. 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 3381.75 signal would target 3390.00. BIAS-DOWN: under 3366.00 signal would target 3353.25 . NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3392.00 3381.75 ...would target 3400.25 3390.00 Bias-down: under 3376.00 3366.00 ...would target 3363.25 3353.25 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE