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) Surging after Thursday's close and into the Globex open had neutralized unfinished business at 3274.00. But overnight was only flat-to-lower, and the 3258.00 open collapsed through the first hour down to 3223.00. The noon hour's lower low at 3212.50 attacked its bias-down target to within 6 ticks, so it didn't become unfinished business. Combined with Friday Factors and month-end window dressing, the afternoon rallied through the close up to 3267.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Déjà vu, all over again. Sunday night's opening blip-up touched Thursday night's opening blip-up at 3273.75. Soon, its immediate reversal had pulled back to 3255.00, like Thursday night. Ranging sideways throughout the night was also like Thursday night, but my rule of alternation has finally kicked in. The sideways ranging just recently broke out, and it is breaking higher. Hovering overnight just under the 3271.75 prior intraday highs is now being probed up to 3282.00. If, then... (notes to accompany the Tour recording) The prior Thursday's confirmed breakout -- down -- has unfinished business below of a close under 3191.00, which would be likely to also visit 3160.00-3170.00. This weekend's Saturday Review described the room for first testing unfinished business outstanding above at 3284.50, and the path back down from there. Already tracking the likeliest path higher, the open's indication is not too far below attacking the unfinished business above. Fresh highs are likely to visit 3288.00 before reversing down, if not also 3303.00-3307.00. That 2-week range's resolution could be the beginning of a much bigger trend, whether up or down. Already probing prior intraday highs, the 2-week old intraday range's volatility remains alive and well. Soon we should see whether its resistance remains intact, too. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3274.00 would be likely to trigger the 3270.50 bias-up signal. Exiting the open under 3266.00 would be unlikely to trigger bias-up.

All of the rally's unfinished business is neutralized. The overnight break higher got to 3286.00. RSIs diverged negatively to enable a pullback through the open down to 3276.50. The opening 15 minutes of volatility had bounced enough through 9:45 to assume that sellers were absorbed. Still, the 2-week old new Globex trend extreme at 3284.50 was only attacked post-open. Releasing the 10:00 econ reports finally broke the rally's inhibition. A knee-jerk reaction surged to new recovery highs at 3292.00. There is no unfinished business above.

At least, no unfinished business that is required. Exceeding the 3283.25 bias-up target through 10:15 has renewed the bias-up signal, next targeting 3295.50 and 3299.00. Exiting a timing window above 3288.00 would increase the potential for extending to 3303.00-3307.00.

Meanwhile, it's too late to reject the 3270.50 bias-up signal, and its required target is already met. Reacting down has room to 3270.50 as support until the bias environment begins lapsing. Any deeper any later would be entirely credible for extending down.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3302.50 3295.50 ...would target 3310.75 3303.75 Bias-down: under 3289.25 3282.25 ...would target 3277.50 3270.50 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.

Slow-playing the rally. The bias environment exit momentarily probed the morning morning's 3292.00 high up to 3293.50. But ultimately the bias environment exit was still overlapping 3288.00 instead of exceeding it to confirm upside momentum remains intact. By the same toke, 3288.00 wasn't rejected at noon. This morning's dips to 3276.50 and 3278.50 each recovered. That's backing-and-filling. And while the pattern has room down to 3270.50, the rally doesn't need it -- been there, done that. Another pullback to or toward this morning's lows is probably reversing the trend back down. Meanwihle, this afternoon just triggered no-bias. The next hour should be contained within its 3282.25-3295.50 bias signals, free to break beyond the range later. No unfinished business remains outstanding, but extending higher would be likely to probe above 3300.00.

Ranging sideways Sunday night retraced 38.2{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of Friday's late-afternoon surge. A breakout developed long enough before the close to be credible for extending. Which it did, to 3286.00 before the open and to 3295.50 before the close. The morning's wide swings were narrowed into the afternoon's higher highs, where swings widened again into the final hour's reaction down. The last unfinished business was neutralized at 3284.50, still being overlapped at the close along with 3288.00. 3303.00-3307.00 is effectively the new 3288.00, needing a higher close to suggest the upleg is extending by more than noise. Meanwhile, testing 3303.00-3307.00 intraday would be vulnerable to reversing down. And 3303.00-3307.00 doesn't require being tested. There is a big difference and a lot of work between being vulnerable to reversing down, and actually reversing down. Initial support lies in the 3272.00-3276.00 gap-to-gap range that was only attacked after Monday's open. Then a dip into 2-week old lower prior highs at 3266.00 would be challenging to break. And just touching 3271.75 below would create unfinished business back up to Monday's 3283.00 open -- being above all prior intraday highs would require filling it from below. Still kicking in the background is the 2-week old confirmed breakout reversal, whose third lower close under 3191.00 remains outstanding. It would be invalidated by a second consecutive close above the 2-week old range's 3271.75 high. This resolution would be unusual, but would not default to any other likelier resolution. 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 morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3301.25 3294.25 ...would target 3313.00 3306.00 Bias-down: under 3283.25 3276.25 ...would target 3272.75 3265.75 Signal status: NO-BIAS . 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.