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... Thursday afternoon's recovery from 2936.00 to 2963.00 didn't extend overnight, ranging mostly in negative territory between 2948.00-2960.00. Neither did it extend higher Friday, but it tried. The 2955.50 open eventually surged to fulfill its 2963.00 bias objective up to 2969.00. May's "new Globex trend extreme" was finally met, too. That was retraced back down to 2955.50 at the noon hour low, and later ticked relentlessly through the 2954.00 cash session close to 2948.00 into expiration's last minute (as expirations often do). The opportunity for a Friday trend extreme close wasn't exploited, but the next higher objective wasn't invalidated. Overnight action's new info... Sunday night's open blipped-down several ticks to 2947.25 and immediately started trending back up, touching 2961.50 by midnight. Eventually dipping to 2956.25 out of Europe's opens is now extending to test 2955.00 as support. If, then... (notes to accompany the Tour recording) Saturday Review discussed details of the immediate downside risk, which can be negated by rejecting Friday's last-minute collapse. Gapping up and maintaining positive territory throughout the night is a good start, but that has only retraced the collapse. It must still be reversed back through its 2963.25 origin, which has only been attacked. And there's not much time for another dip to recover sufficiently before the open. Fresh overnight highs would be credible for extending higher intraday. A catalyst in either direction isn't necessary, but be on guard for headline risk/opportunity: Friday's start to the G20 meeting won't isolate headlines to the weekend -- rather, look(out) for public posturing on either side throughout the week. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 under 2955.50 would be unlikely to trigger the 2959.00 bias-up signal at 10:15. Exiting the open above 2951.50 would unlikely to trigger the 2947.75 bias-down signal.

Expiration restraints still holding. The open's blip-up touched the 2959.00 bias-up signal and reacted down to 2952.75. That extended the pullback from the 2961.75 overnight high. Another bounce probed another point above the bias-up signal, but it wasn't triggered. And it wasn't rejected. This is a noN-bias environment. Not a bias-up with a target above, and not a no-bias with an objective below. But a noN-bias, which isn't restrained from rallying or required to react down. Separate from the bias is a setup that needs to clearly reject Friday's late collapse, or else be vulnerable to trending down. Back above 2959.50 would be credible for extending higher. Meanwhile, back under 2956.25 (being tested now) increases the vulnerability to resuming Friday's late drop.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2855.00 2959.75 ...would target 2961.75 2966.50 Bias-down: under 2948.75 2953.50 ...would target 2942.00 2947.75 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.

Chop, but no pop. Neither of the 2953.50-2959.75 bias signals was touched before triggering no-bias. Neither requires being touched, but ither should define that end of the bias window if touched. Breaking either end through 1:30 could extend without requiring its retracement. Meanwhile, this morning's sloppy range persists. Signals are attracting reinforcements beyond the sponsorship's initial probe, but then quickly reversing direction. And neither seems to be stretching the rubber band sufficiently for snapping back, since the range persists. Consecutive narrow or narrowing ranges often resolve only by gapping the following day. Today's pattern will have one more opportunity to trend as the bias environment starts lapsing in an hour.

Monday's session was an inside day until the last couple of minutes. That's when Friday's 2950.50 low was pierced momentarily down to 2948.75. Such late sponsorship isn't strong-handed, and the probe was recovered at the close, anyway. So let's call it an inside day. Inside days tend to resolve opposite from their intraday bias. Monday's open gapped up within Friday's range, peaked at the first hour at 2960.00, and trended back down gradually through the close. Resolving in the opposite direction would be up. Trending down into the close tells us to check whether the afternoon's high printed during the bias environment. Which it did, at 2956.25. Gapping up above it Tuesday could form a "session-long rally" setup. The range is a little tight, so the more reliable setup would also recover Monday's 2960.00 high. Only ranging sideways since Thursday's 2960.50 open suggests that buyers might need to be found below. Extending down overnight and/or Tuesday has room to test 2933.00 without reversing the rally. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2952.75 2957.50 ...would target 2959.00 2963.75 Bias-down: under 2943.50 2948.25 ...would target 2937.50 2942.25 Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET . 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.