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) Trending down into Friday's close had allowed gapping up Monday above Friday afternoon's 3357.00 high to form a session-long rally setup. Rallying through the morning fulfilled that leg's highest objective at 3388.00 by 3 ticks. Dipping out of the noon hour tested the bias-down signal by 6 ticks down to 3375.50, which the no-bias environment contained. Despite being so far removed from prior highs, surging into the final hour fulfilled the session-long rally requirements with more fresh highs. The rally extended into the last half-hour at 3400.00 and hovered into the close. Overnight action's new info... (nearby chart is last intraday session and Globex) Yesterday afternoon's rally was soon retraced by 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} down to 3385.00. Probing back under yesterday morning's 3389.00 high was temporary, and eventually reacted back up to within 3 ticks of yesterday afternoon's 3400.00 high. Reversing down again probed deeper to test 3380.50. But not temporarily, not yet, still hovering under yesterday morning's 3389.00 high. If, then... (notes to accompany the Tour recording) Yesterday afternoon's rally produced a breakout above the 3384.25 pivotal highs of last week's multi-session range. A second consecutive higher close today would confirm. Not confirming might still try again tomorrow. But probably not if today's close is back under the 3384.25 breakout level. And closing back under 3384.25 becomes likelier if the open is already gapping back under it -- which overnight weakness currently threatens. That would suggest a massive paradigm shift underway from yesterday's bullish sentiment, because it would contradict the usual immediate extension of a session-long rally likely yesterday's (although the morning bias environment could still rally temporarily from lower levels). Rallying this morning should target at least 3401.50-3403.50, while remaining vulnerable to reversing back down intraday. Probing lower would target at least a retest of yesterday afternoon's 3375.50 low. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open under 3381.00 would be likely to trigger the 3384.25 bias-down signal. Exiting the open above 3388.00 would be unlikely to trigger bias-down.

Done hovering around yesterday's high? Not surging immediately post-open was likely instead to back-and-fill, having room down to 3388.00-3390.75. Not surging immediately post-open did back-and-fill, only touching 3390.75. Reversing up relentlessly probed fresh highs attacking 3406.00. Meanwhile, overlapping the 3403.50 bias-up signal at both 10:15 and 10:30 has triggered noN-bias. Not bias-up putting into play its bias-up target. Not no-bias putting into play an offsetting test of its bias-down signal. And not no-bias requiring the bias signals to contain this morning's price action. noN-bias is still likely to recognize the influence of inflection points if tested. So, delaying a recovery above the bias-up signal can become bearish. Usual follow-through this morning of yesterday's session-long rally isn't required, but delaying a reversal down does keep the door wide open to higher highs.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3398.25 signal would target 3408.00. BIAS-DOWN: under 3381.00 signal would target 3366.75. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3408.25 3398.25 ...would target 3418.00 3408.00 Bias-down: under 3391.00 3381.00 ...would target 3376.75 3366.75 Signal status: BIAS-UP, BIAS-UP TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE

Choppily flat-to-higher. The open's backing-and-filling down to its 3389.00-3390.75 limit had reversed up to fresh highs attacking 3406.00. The bias environment trended back down to probe the 3389.00-3390.75 limit. But the trend didn't reverse down. Rallying through the noon hour recovered the open's highs. The afternoon bias environment was entered at its 3408.00 bias-up target. Not above it to put higher targets into play. But still triggering bias-up. But has the trend reversed up?

A blip-up to 3410.00 took RSIs simultaneously overbought. Overbought requires a retest. But both were lower overbought, so a pullback could still test the 3398.25 bias-up signal. Having trended choppily this morning, then trended up steadily through the noon hour, reversing down could become a much more substantial trend if not contained by the bias-up signal.

The bigger picture will be impacted by closing above yesterday's 3400.00 high to confirm its breakout. Closing back under 3384.25 would invalidate the breakout.

Choppily ranging flat-to-lower overnight had dipped to 3480.00 before recovering back up to Monday's 3400.00 high. Tuesday's 3406.00 post-open high was retraced by choppy ranging back down to 3386.00 at noon. Rallying from there exited the afternoon bias environment attacking 3422.00. Among other catalysts was renewed stimulus talks, which were ambushed by Trump rejecting the latest offer with prejudice. Plunging eventually tested 3344.00 before the close. The plunge's initial 3345.00 low had found support at the gap-to-gap retracement from Friday's close, while RSIs made higher lows. But its corrective bounce up to 3371.00 was fully retraced. Late headline reactions are often reliable for extending through the close because strong-handed countertrend sponsorship is reluctant to negotiate waters so heavily-infested by weak-handed sponsorship. Late headline reactions that extend through the close are also likely to extend overnight and/or the next morning. Tuesday's plunge has already extended since the close down to 3330.50. That's even deeper into Friday's range, whose 3357.00 lower prior highs are sufficiently chipped away to allow gapping down through last week's ~3314.00 intraday lows. Headline reactions are usually corrected by at least 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6}. But unless Wednesday's open is already gapping up, the alternative retest of last week's lows is likelier to extend to 3258.00. And that would open the door to resuming September's 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].

WED A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3360.25 signal would target 3381.00. BIAS-DOWN: under 3333.00 signal would target 3311.00. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3370.25 3360.25 ...would target 3391.00 3381.00 Bias-down: under 3343.00 3333.00 ...would target 3321.00 3311.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE