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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... There was nothing near-term bullish about retesting 2767.00 Sunday night and post-open Monday. Having held Friday to launch its intraday rally, its support properties were deleted, and now the decline must extend to test 2756.00. Quickly rejecting the overnight and intraday dip might have avoided the extension, except that the opening 15 minutes of volatility were still holding at or under 2767.00. More at than under, in this case. And that included gapping down through both bias-down parameters, expending a lot of energy. But it created a position of weakness, and any rally it launched would be doomed to failure. The morning rallied back up to its 2778.00 bias-down signal, which the afternoon retested before probing by 2 points through the close. Overnight action's new info... The party got started early last night. A quick retest of the 2780.00 post-close high reacted back down to 2778.00, and then plunged to 2762.50 on the announcement of new tariffs against China. Consolidating back up to 2767.00 plunged again to 2753.50 -- possibly on news of China striking back, perhaps in reaction to news that General Mattis is visiting South Korea to reinstate their previously called-off joint drills. Regardless, consolidating around 2756.00 slid another 20 points into and out of Europe's opens to test 2736.00. Bouncing since then has tested 2751.50. If, then... Unless already rejected overnight, the objective of Monday's late break was to fill the gap back up to Friday's 2784.50 close, at least 5-7 points higher if not 10. Any higher would have started putting into play the 2796.00 and 2798.00 objectives above. Unless already rejected overnight, which is the case. Exceeding 2756.00 by 20 points does not change the bearish-bullish path described Saturday, that started tracking Monday -- to avoid further delay in testing 2756.00 so that selling pressure couldn't refuel. Buyers didn't gain any traction for Monday's bounce, which did refuel selling pressure to a degree. The question is whether that added degree of refueling is being fulfilled by the overnight lows and their intraday retest. The answer will be in whether 2756.00 is recovered through the close. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2756.00 would be the best chance at rallying back up to 2767.00, regardless of the resolution from there.

Post-open volatility still includes bounces. Dipping overnight to test 2736.00 was recovered pre-open to test 2754.00. The 2750.50 open surged to 2756.00, which had been put into play by revisiting 2767.00 yesterday. Now it had been tested intraday, so closing back above it would signal that sellers were likely done. Its test extended up to 2758.75, but 2756.00 held as resistance through the open. And now, after an interim dip attacked 2746.00, its reaction up is retesting the 2758.75 post-open high. This sudden optimism seems premature, since the overnight low's retest has a minimum likely objective of 2738.50. Fresh lows would target 2732.00. Closing today above 2756.00 is possible without yet fulfilling likely downside objectives. That would create a position of strength to better enable a recovery if another sell-off were attempted tomorrow morning. Or, 2756.00 could be both recovered and already exploited today. So, until today's close is above 2756.00, or until recovering 2767.00, bounces are possible, but not likely to be durable.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2763.50 2767.00 ...would target 2770.00 2773.50 Bias-down: under 2755.00 2758.50 ...would target 2747.00 2750.50 Signal status: LATE BIAS-DOWN FAQ 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.

Choppy morning struggles to hold above critical support. The open's gap down surged back up. Its reaction probed fresh post-open lows down to 2735.75, and that was recovered to test yesterday's pre-open "higher prior lows" at 2764.00. That's just short of 2767.00 whose recovery through the close could reverse the trend up. That was also by noon, leaving plenty of time for another downdraft. In fact, another downdraft has attacked 2754.00 while triggering a late bias-down. That has become suspicious, itself, now that its reaction up is testing 2762.00. The bias-down environment's upper-end should be defined by its 2758.50 bias-down signal if tested, and it's being tested. Being a late bias signal helps price action to ignore it. Exiting the bias environment above its 2767.00 bias-down signal would invalidate the late bias-down. And it would likely squeeze higher through tomorrow's open. Otherwise, back under 2757.50 would resume the decline.

Tuesday didn't rally throughout, but it rallied a lot. The 2750.50 open was well off the 2735.75 low, and a post-open surge extended that quickly to 2758.50. Reacting down to 2746.25 probed a fresh post-open low, but it was also the post-open low. Rallying gradually higher into the final hour touched 2769.00. Timing undermined both sellers and buyers. Correcting the morning's recovery from 2764.00 by 20 points held its test of 2756.00 as support, preventing sellers from gaining traction for having probed under it. Extending higher through the afternoon held a test of 2767.00, preventing buyers from gaining traction for their efforts. More so, waiting until minutes before the final hour's entry to actually probe above 2767.00 wouldn't have been reliable if maintained, which it was not. Extending higher from this pattern all but requires gapping up, preferably above 2773.50. Dipping again would have potential to hold 2756.00. But its break at this stage would likely target a retest of Monday night's low down to 2732.00. 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 2770.25 2773.50 ...would target 2777.75 2781.00 Bias-down: under 2759.50 2763.00 ...would target 2753.25 2756.75 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL FAQ 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.