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's gap up to 2674.50 had signaled that Friday's late probe under it was an anomaly. Triggering bias-up -- more so, renewing the bias-up signal -- essentially signaled that a retest of Friday's 2698.25 pre-open high was in-play. The morning's 2692.75 renewed bias-up target held through both bias environments and the noon hour in between. Breaking higher into the position-squaring window trended up to touch its 2696.00 target. New intraday highs were avoided, but it was a new high close. Overnight action's new info... Trending up relentlessly has very recently pierced Friday's 2698.25 pre-open high by 2 ticks. The upside action has been relentless, but the move hasn't been substantial and the slope hasn't been steep So shallow, that its reaction down is now touching yesterday's late 2696.00 high. If, then... Friday's pre-open high didn't require any retest. And having formed by a singular probe without complexity, it didn't require intraday retest. Both are still likelier than not -- to fresh highs at the 2700.00 area, if not also 2703.00 -- but reversing down prematurely could extend down again. Meanwhile, extending higher than 2703.00 is more difficult because the recent pullback was only a shallow dip which didn't refuel much. Difficult, but possible if carried away with itself, next targeting 2722.00-2727.00. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2699.75 would be likely to trigger the 2697.00 bias-up signal at 10:15. Exiting the open under 2693.00 would be unlikely to trigger bias-up. Phonetic dictation... it is Wednesday it's time for Wednesdays morning market tour the retracement is complete that is Friday's pre-opening High itself not requiring a retest let alone an intraday retest itself being a probe above the two-week-old high can see that anymore 2 week old high before Friday's open that lacked the complexity which would have required a otherwise required in intraday retest didn't require and still doesn't but now it has was never tested Post open because yesterdaypressure was expended just to get down to the interim low that's not a cumulative that's not on a Friday by the way out of the end of the year it's not really trapping shorts and this was proved to have been in a normally so can't even be counted toward how much deeper of a pull back there was soon as possible and not attractive to reinforcementswhich6110 Stone play Natural Gas three consecutive session before consecutive sessions of gapping of five really or six but three that are out of the range so three that are attributed to trending and including higher closes so again like that just similar to up training sessions very difficult to reverse that that trend not impossible to retrace it corrected even retest the origin of it intraday if there were a pullback of a pullback does get underway here then really it has room down to lower Pryor eyes in this sort of the pattern you really don't want to see if you're looking at the .

Rally resumes relentlessly. The pre-open retest of Friday's 2698.25 pre-open high had reacted down to touch yesterday's 2696.00 high as support. The open wasn't greeted much higher, but it was certainly more aggressive. A steeper slope probed substantially higher through every timing window. The open exceeded 2699.00 to make the bias-up likelier to trigger. The 2703.00 bias-up target was exceeded through 10:15 to renew the bias-up. And now the first hour is extending to 2708.50. All while 3-minute RSI remains persistently overbought.

It's important to repeat that prior highs didn't require a retest, let alone a break higher. Also, the interim dip was shallow, and not accumulative. This is new sponsorship, and vulnerable to becoming depleted if reinforcements don't arrive.

Every timing window exited above 2703.00 and above any higher of its prior test makes the rally's next higher objectives likely to be met at 2722.00-2727.00. Only closing under 2703.00 today can undermine that likelihood.

WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2709.75 2709.00 ...would target  2714.50  2714.00 Bias-down: under  2703.50  2703.00 ...would target  2698.50  2697.75 Signal status: BIAS-UP FAQ NEW! Flowcharts: Bias-UP // Bias-DN 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.

More new highs, briefer consolidations. Already breaking higher during the noon hour to 2712.00, this afternoon's 2709.00 bias-up signal has triggered. Its 2714.00 bias-up target is in-play. It's too late to invalidate the signal at 1:30. So it could be invalidated only by avoiding a fresh high above 2712.00 and then exiting the bias environment at 2:30 back under the afternoon's 2703.00 bias-down signal. The noon hour's breakout does risk being too optimistic ahead of the 2:00 FOMC Minutes. An initially favorable knee-jerk reaction could fulfill 2714.00 and then reverse down. Already fulfilling 2714.00 before the Minutes could react down more durably. Actually closing above 2703.00 would put into play 2722.00-2727.00 regardless of today's high. Overbought RSIs at the high printed during the noon hour, so no retest of the high is required. Not first fulfilling 2714.00 would leave unfinished business above, but not closing above 2703.00 would be more relevant.

Friday's pre-open retest of the 2-week old high followed a relatively shallow interim pullback. Shallow, and narrowly ranging are not accumulation. So retesting the high could have been limited to 2703.00. Extending higher established a couple of other potential peaks that could have limited the session high. Its highest at 2714.00 did just that. 2703.00 and 2714.00 each could have attracted counter-trend sponsorship. But 2703.00 was probed early enough and high enough to put into play targets above it. And despite it fulfilling the afternoon's buying pressure by being the bias-up target, 2714.00 was tested late enough to dissuade counter-trend sponsorship. Clearly, something relevant happened at 2714.00. It was pierced by a single tick before reacting down 3 points into the close. Closing above it would have made the next higher objective at 2722-2727 more capable of extending higher, or at least ranging sideways. If met Thursday morning immediately after having held 2714.00, then 2722-2727 would be as vulnerable to reacting down as 2703.00 and 2714.00.

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 2715.75 2715.00 ...would target  2722.50  2722.00 Bias-down: under  2706.50  2706.00 ...would target  2700.50  2699.75 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED FAQ NEW! Flowcharts: Bias-UP // Bias-DN 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.