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... (summary of last Market Wrap) Sunday night's gap up had hovered through the night back at Friday morning's 3026.50 high. Optimism's restraints started buckling with the help of Europe's opens, and soon extended higher to greet Monday's opens at 3033.25. The open extended still higher and eventually attacked 3043.00 at the morning's high. Similar to a gap-and-go setup, the balance of the session ranged sideways, almost hovering, albeit retracing most of the post-open gain. Overnight action's new info... (nearby chart is last intraday session and Globex) Monday afternoon's sideways ranging narrowed and persisted into Europe's opens, where a downleg suddenly began. Its initial break fell back to yesterday's 3033.25 open, and has since trended down choppily to now test 3031.00. If, then... (notes to accompany the Tour recording) So much for seasonality? Today ends the anniversary of 1929's 4-day crash, which had developed Thursday-Tuesday. Like all crashes, a decline was already underway before entering that window, which couldn't be further from our present situation. To the contrary, Monday probed and closed at new all-time highs. Rather than pessimism, last weekend was entered and exited with budding optimism that almost literally exploded higher through yesterday morning. Granted, the scale is relatively infinitesimal, but we should still be aware of whether that influence is lapsing, let alone reversing. For now, we're expecting the usual pullback following a gap-and-go session's morning rally and afternoon range -- and then its recovery to higher highs on Wednesday. Overnight action already suggests the door is open to a corrective pullback session today. Pullback lows could test a gap-to-gap retracement at 3027.75, 3022.75 "lower prior highs," or even to 3013.00-3014.00, probe under 3000.00. Rallying instead will be considered only if any setup seems ready to trigger bias-up. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 under 3033.00 would be likely to trigger the 3034.25 bias-down signal. Exiting the open above 3037.50 would be unlikely to trigger bias-up.

Pre-open dip recovers, just enough to recover some more. The narrow overnight range had broken lower at Europe's opens, collapsing from 3037.50. Chopping its way through yesterday's 3033.25 open eventually touched 3029.50. But the chop was recovered to greet the open back around 3033.25. Post-open action has taken the opposite tack, testing and retesting 3039.50. On its way to testing the 3041.75 bias-up signal, having held the 3034.25 bias-down signal -- being tested now. Back under 3036.75 would start to signal another pullback leg underway. Meanwhile, room for noise up to 3043.00 during the no-bias environment wouldn't necessarily stretch the rubber band to snap back down. But not too much higher would be allowed while still delaying the rally's resumption until tomorrow.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3046.50 3044.50 ...would target 3052.50 3050.50 Bias-down: under 3038.50 3036.75 ...would target 3032.00 3030.25 Signal status: NO-BIAS . 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.

Headlines advancing. Probing above this morning's 3041.75 bias-up signal during a no-bias environment was "no-bias trending" that required being retraced at some point. That point came from 3046.25. No-bias trending often also retraces the 10:15 print, which this morning was 3038.00. Which was probed down to 3033.50 in reaction to a China trade headline. Being a reaction to a China trade headline, it was retraced. Entirely, in this case, and then some, up to 3044.00. Just 2 ticks short of touching bias-up. Trending higher is difficult or unlikely as tomorrow's FOMC events come closer. Overbought RSIs at this morning's high should be retested at some point, probably today so long as the bias environment doesn't drift lower.

Monday's gap-and-go morning had ranged sideways through the afternoon to make a pullback likely Tuesday. An overnight dip probed under Monday afternoon's lows, but recovering into the open extended to probe Monday's 3042.75 high up to 3046.25. Rally, or retest? More so the latter, since only a singular upleg probed above Monday's high, and its reaction down consolidated back under Monday's high. Collapsing down to 3033.50 in reaction to a China trade headline was retraced up to 3044.00, but only to fall even deeper down to 3033.00. So, Tuesday was part pullback, part new high, and then more pullback. But not a rally, as Monday morning's excessive optimism borrowed too much from the next timing windows. Tuesday's fresh high undermines the rally's requirement for being refueled, still having room down to 3027.75, 3022.50, and 3013.00-3014.00. Perhaps ahead of Wednesday afternoon's FOMC events... Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3042.75 3040.75 ...would target 3050.00 3048.00 Bias-down: under 3033.25 3031.50 ...would target 3027.00 3025.25 Signal status: noN-BIAS, TESTED BIAS-DOWN PARAMETERS . 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.