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... Two probes of fresh highs Sunday night attacking 2947.00 lacked the complexity to label them "new Globex trend extremes," so they didn't require intraday retest. That didn't prevent fresh post-open highs, especially after an overnight dip to 2938.00 was recovered to avoid forming a bearish Globex-flip setup. Two bias-up signals triggered, but only the morning's 2950.50 bias-up target was met. The afternoon's 2954.25 bias-up target became "unfinished business," attacked only to 2951.50. Perhaps it was anxiousness ahead of GOOGL's post-close earnings that inhibited rallying higher, instead retracing to 2942.00 through the close. Overnight action's new info... The anxiousness was well-founded as GOOGL's miss plunged 100 points. That didn't exactly inspire the market, which extended down to 2940.00 through early Globex. Poor economic news from China triggered a spike down to test 2936.00, which was mostly recovered through midnight. That has gradually recovered to attack 2944.00. If, then... (notes to accompany the Tour recording) Tuesday's econ calendar is very heavy with plenty of reports, and Wednesday's calendar is very weighty with FOMC events. The quarterly earnings onslaught continues, and this stage continues shaping a different profile than the first round of reports. GE just surprised to the upside, but not enough by itself to recover yesterday's unfinished business another 11 points higher. Several econ reports are staggered through the open that could either help or hinder a recovery. Maintaining an open in positive territory would be a good first step. Otherwise, the unfinished business above need not prevent a sizeable interim pullback -- and last night's probe under both Sunday night and Monday's lows suggests some sort of pullback is nearing. Regardless, intraday trending will likely become inhibited again this afternoon ahead of post-close earnings due from AAPL. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2945.75 would be unlikely to trigger the 2941.50 bias-down signal at 10:15. Exiting the open under 2940.50 would be likely to trigger bias-down.

Pre-open slip undoes overnight recovery attempt. Gradually working higher from the 2935.75 overnight low had recovered to test yesterday's 2944.50 cash session close by 1 point. But another news item triggered a spike down to 2939.00, greeting the open fluctuating around the 2941.50 bias-down signal. The open spiked down immediately to 2936.00. A 4-point range has eked lower to touch the 2935.00 bias-down target. Bounces have tested buy signals, but always too early to be credible -- either during a sizeable bounce limit test, or by the first reaction up from the previous trend's extreme. Back above 2939.00 would now be credible for recovering the 2941.50 open, if not also probing yesterday's 2944.50 cash session close and higher. But back under 2936.00 would target a test of 2934.00 and lower. And by potentially exiting the bias environment under the open's lows, an intraday recovery would become very unlikely.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2939.50 2941.50 ...would target 2945.00 2947.00 Bias-down: under 2932.75 2934.00 ...would target 2925.75 2928.00 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL . 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.

Does the market care? It's range is being probed anyway. Sloshing around through the open bled into the bias environment, triggering bias-down and repeatedly attacking its 2935.00 bias-down target. The target expanded to 2933.00-2934.00, with plenty of time for its test to be recovered before marginalizing buyers for the day. In fact, its test plunged to 2926.00, and still recovered in time to avoid marginalizing buyers. Meanwhile, simultaneously oversold 1-minute and 3-minute RSIs left outstanding at the 2926.00 low require an eventual retest. That didn't prevent extending the bounce to fresh post-open highs testing the pre-open 2945.50 high. Which is "no-bias trending," since the 2941.50 bias-up signal held its test through 1:20 to trigger no-bias. So, 2941.50 is likely to be retraced at or through the bias environment exit. The balance of the session is vulnerable not so much to trending as it is to gravitating toward one end of the range or the other. Exiting the bias environment back within the 2935.00-2940.00 post-open range -- especially under it -- would likely extend down to the 2926.00 low. Leaving its attraction outstanding as "unfinished business" would make a retest of yesterday's highs. likelier to reverse down.

Monday afternoon had hesitated to extend above 2951.50 ahead of post-close GOOGL earnings. That became a late dip that extended down through the close to 2942.00 and then to 2936.00 overnight. All of which could have been reversed had the overnight bounce to 2945.50 been maintained. But its reaction greeted the open too low and the overnight low's retest eventually resolved down sharply to 2926.00. Monday's "unfinished business" above at 2954.25 would seem to be in another universe at that point. Unfinished business was created below on oversold RSIs at the morning's 2926.00 low. None of which prevented the morning's bias environment exit from surging back into the 2935.00-2940.00 post-open range. Or from probing above the afternoon's 2941.50 bias-up signal, despite already triggering no-bias. AAPL's post-close earnings is probably responsible for hovering at the afternoon's 2947.00 bias-up target -- despite not triggering bias-up, and being no-bias trending. And now a last-minute surge to 2950.50 has extended sharply higher to 2956.50 in reaction to AAPL's favorable earnings reaction. AMD did well, too. Unfinished business above is neutralized. Extending the rally Wednesday morning will be difficult ahead of the afternoon's FOMC events. Potential to back-and-fill is likelier than actually reversing the trend down. Extending higher would next target 2969.00. 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 2948.50 2950.50 ...would target 2953.75 2955.75 Bias-down: under 2937.75 2940.00 ...would target 2932.25 2934.50 Signal status: BIAS-UP INVALIDATED . 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.