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's last-minute 2801.00 high was still overlapping Tuesday's prior high, but not rejecting it. Unfinished business above was left outstanding at 2804.00. Friday's flat open dipped just enough to test the 2793.50 bias-down signal. Its reaction soon extended to fresh highs testing 2806.00, and soon peaked. The balance of the session ranged narrowly sideways between 2801.00-2806.00. Thursday's touch of February's 2800.75 pivotal high was not rejected, confirming the attractions above to ate last 2809.00. Overnight action's new info... Sunday night's open spiked up to 2809.00 and ranged narrowly sideways. Tests of 2804.00 as support held through Europe's opens, but an attempt to resume the earlier rally has been rejected by fresh overnight lows down to 2802.25. Its reaction up tested 2804.00 as resistance and has reversed down to fresh lows at 2800.50. If, then... An overnight probe above the prior session's high has threatened to reverse back under the earlier overnight low. The differential between high and low is relatively narrow, but sufficient to trigger a downtrending morning. Probing the earlier overnight low post-open but then recovering it could resolve as bullishly as its failure would have been bearish. And then retesting the 2809.00 overnight high or probing it up to 2813.00-2816.75 would be likely before becoming vulnerable again to reversing down. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 under 2807.75 would be unlikely to trigger the 2809.00 bias-up signal at 10:15. Exiting the open above 2811.00 would be likely to trigger bias-up. Exiting the open above 2804.00 would be unlikely to trigger the 2797.75 bias-down signal.

Reversal into the red has set the tone. Having probed overnight above the prior session's high, exiting the open under the earlier overnight low has signaled a bearish morning. Other observations include the overnight high touching what is this morning's 2709.00 bias-up signal -- which is also the next rally's next higher target in-play. But that was overnight. The open was struggling to maintain positive territory, and bounced momentarily back above 2804.00. But the 2803.75 earlier overnight low broke lower through the opening 15 minutes of volatility. As did one of Friday's last relative lows at 2801.50. Meanwhile, this morning's bias-down did not trigger. Its 2797.75 signal wasn't even touched by 10:15, despite having been in proximity for awhile. Another bounce is resolving down to fresh session lows anyway, but its "no-bias trending" will require retracing 2797.75 before a downleg can be very credible for extending. Having said that, I'd still give sellers a benefit of the doubt. So far, two tests of 2797.75 have been interrupted by a bounce attacking 2802.00. Its recovery would start to signal momentum reversing up. An offsetting test of the bias-up signal wouldn't be recovered, since bias-down wasn't tested in time.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2801.25 2802.75 ...would target 2806.00 2807.50 Bias-down: under 2792.75 2794.25 ...would target 2784.50 2786.00 Signal status: LATE NO-BIAS, TESTED BIAS-UP SIGNAL FAQ Flowcharts: Bias-UP // Bias-DN 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.

Morning's bearish influence could be absorbed. This morning's 2797.75 bias-down signal didn't trigger. It wasn't even touched in time to invoke the grace period despite being in proximity. And breaking under it was recovered by 10:30 to maintain the no-bias environment. That no-bias environment didn't prevent a fresh low at 2795.00, but it warned of the fresh low's recovery, at least back up to 2797.75.

2797.75 was recovered, and was retested as support into the noon hour. It held again, but only to test this afternoon's 2802.75 bias-up signal. And only momentarily by errant ticks. This afternoon is a no-bias environment, too.

Bias environments lapse. This one will come within view of lapsing 10-15 minutes before 2:30. Breaking higher would at least target a retest of the 2804.75 post-open highs. And probably extend higher to test the 2809.00 target which has yet to be tested intraday. Last night's test of 2809.00 could suffice, but any higher would next target 2813.00-2816.75. Did I mention that last night's test of 2809.00 could suffice? Exiting the bias environment in decline would resume this morning's bearish setup. Potential to 2781.25 would come into play.

Monday morning's drop was signaled by the Globex setup -- at least remaining under bearish pressure through the morning. That wasn't enough to trigger bias-down, which was probed repeatedly anyway throughout the morning. Recovering into the noon hour held natural resistance at unchanged instead of probing into positive territory. But sellers couldn't exploit the recovery's hesitation, and the afternoon's reaction down only attacked the morning's low. One more bounce stopped short of signaling a hold-long, so Tuesday morning remains open to either direction, requiring neither, but still vulnerable to extending 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 2802.00 2803.50 ...would target 2807.50 2809.00 Bias-down: under 2793.00 2794.75 ...would target 2787.75 2789.25 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL FAQ Flowcharts: Bias-UP // Bias-DN 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.