Proper context can start the day with a solid win and make all the difference.

NEW 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... Tuesday's opening test its 2421.50 bias-down signal had held, putting into play an offsetting test of the 2428.00 bias-up signal. Just 2 points away from the objective, a political headlines triggered a 16-point plunge to attack 2410.00. As knee-jerk reactions to headlines are sponsored by weak hands, its complete retracement was likely. The afternoon bias environment fulfilled it, and the final hour came within 3 ticks of 2428.00 to fulfill that objective, too. Closing action reacted down to 2423.00. Overnight action's new info... Firming initially to 2426.50 was retraced to retest Tuesday's late 2423.00 low by 2 ticks. Ranging there narrowly at the lows began firming at Europe's opens. That has since extended to fresh highs testing 2428.00. Consolidating there has resolved up to resume the rally. If, then... More thoroughly testing 2428.00 relevant resistance doesn't make extending higher any more assured. But fresh highs remain likely because the recent repeated tests of relevant support all have recovered during relevant timing windows. Fresh highs need not become a new upleg to new highs, but exceeding 2433.00-2435.50 through a relevant window would make new highs likely, too. . First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2429.00 would be likely to trigger the 2428.00 bias-up signal at 10:15. Exiting the open under 2425.25 would be unlikely to trigger bias-up. Phonetic dictation... Alright good morning and welcome it's Wednesday it's time for Wednesday's morning market tour not a lot going on last night not until your abs opens which basically took us from yesterday's last pull back testing yet and tested it overnight repeatedly firming and accelerating and extending to 2428 and then hire 2428 by the way just as a reminder was yesterday afternoon's bar yesterday morning by step signal and offsetting test if it had been put into play by holding a test of the bias down signal in the morning and we were two points away when the Trump dump or Trump jr. dub doing your anyway emerged and Trigger this huge plunge need jerk reaction so I need your reactions airlines are by definition sponsored by we can some headlines are deserving of it of staying down this one we even though it was pretty substantial to prove the bias down Target recovered the biased and Target through by before the bias down I'm sorry before the bias environment so that the mornings Target remained in play for intact required to be met didn't have to be met the same day but it was it was that is within three tix which neutralizes it that's close enough it is hand grades and Hand Grenades and horseshoes to some degree two or three ticked agree but in case it's been tested overnight and now trying to exceed it and it's the bias of signal this morning if it's triggered it to play 23 which by the way was from a couple Mondays ago last Monday the July 4th weekend section 2433 3550 those two levels are in the sink and her two levels of the singular representation that one pattern but 33 is the higher price 3550 cross that threshold and we're headed in even higher and even though there's resistance along the way heading higher means probably new highs 2454 and higher plenty of upside potential even if we knew that I don't agree that we're going to be fulfilled that we were going to resolve that doesn't has been testing supports Windows and it was probed overnight now the next hour gap 7675 essentially and play likely to be tested anyway pound not really taking seriously yesterday's peeking lower even a lower low overnight but if that doesn't prove this morning that it's only stretching the rubber band and another word start snapping back up I'll take it seriously Gap at standing to Monday's close by yesterday's Gap Town doesn't have to be filled because the Gap was created by opening with in Tuesday with in Monday's range so there is no unfinished business of up in the loony it is free to extend down interesting triangle forming in light of that and the gyro which and let too much time elapsed since neutralizing its upside and not reversing down made new high as likely it's just a default and so the new highest measured out to 151 150 but 115es right 11510 11525 tested yesterday tested no more thoroughly overnight need to close above it indicate any more substantial rallying instead of just a reaction down silver couple consecutive articles about 55-60 say that a bottom is trying to form doesn't have to have formed reaction down is possible some sort of reversal down or attempt to sell off his possible what are we been to overnight 1493 Tire Pros that's a good opportunity to try to react down to form a more durable bottom gold for overnight as well kind of eating its way higher it really does .

Yellen's remarks fuel pre-open / post-open surge. This morning's 2428.00 bias-up signal was already tested overnight after Europe's opens helped to end a narrow range. Its brief consolidation resolved up sharply as the embargo was lifted on Yellen's opening remarks for her House Congressional testimony. The open was greeted by a consolidation around 2435.50. Another surge extended the rally to attack 2443.00. The highest candidate for containing the post-open surge is 2441.75. While testing it for more than a half-hour, it has been exceeded by 1 point, but only overlapped, while RSIs eventually diverged negatively. And now its pullback limit is being violated. Back under 2439.50 would signal momentum reversing down (now being tested). Objectives include this morning's 2433.00 bias-up target and 2430.50. Even the 2428.00 bias-up signal can be tested while remaining within the bias-up environment. Gapping up this morning doesn't prevent attempts to reverse the trend down, but helps to ensure that attempts will fail. Regardless of the substantial rally from yesterday's close, avoiding any pullback would next target new highs above 2454.00.

WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2443.00 2441.00 ...would target  2449.25  2447.25 Bias-down: under  2436.50  2434.50 ...would target  2430.00  2428.00 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL FAQ 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.

Still hovering off the morning high. This morning's 5-point reaction down from attacking 2443.00 has persisted through much of the morning's bias environment and noon hour. Now the afternoon bias environment seems stuck. The 2441.00 bias-up signal was tested -- barely, but it has held. Back under 2437.50 would still credible for a deeper dip, to 2433.00 or 2430.50. Extending higher anyway would be no-bias trending and doomed to failure.

Potential for extending the current bounce up to 2433.00 is moot, now that Wednesday has closed above it. The low was essentially the open's test of 2435.50, or 3 ticks lower. Intraday extended to attack 2444.00 and reacted down only 4 points into the close. A second consecutive higher close isn't required in order to extend higher eventually. But it would provide helpful confirmation that a subsequent pullback was only temporary. Already pulling back Thursday morning has considerable room before reversing momentum down. Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.

THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above  2444.00 2442.00 ...would target  2449.25  2447.25 Bias-down: under  2436.00  2434.00 ...would target 2430.75  2428.75 Signal status: INVALIDATED BIAS-UP FAQ 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.