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... (summary of last Market Wrap) Friday's gap up extended through the 3017.00-3018.00 resistance, putting buyers back into control. The session rallied relentlessly into its final minutes, touching 3029.50. The common Friday afternoon setup of exiting its bias environment above the noon hour's high once again made the earlier trending likely to persist. A very last-minute 3-point reaction down into the cash session close became 6 points at the futures close, all of which was too late to suggest the trend is reversing down. Wednesday night's 3027.75 "new Globex trend extreme" that required a retest was neutralized. Its prior high was being overlapped, but Friday's 3026.75 close still qualifies as a new trend high on a Friday -- requiring requires an eventual higher close. Overnight action's new info... (nearby chart is last session and Globex) Sunday night's open initially pierced Friday's last-minute low by several ticks down to 3022.00, then popped-up to 3026.00. Dipping back down to 3020.00 by midnight hovered there, firmed into Europe's opens, and eventually attacked the earlier 3026.00 high -- only to range even more narrowly back down to the open's 3022.00 low. If, then... (notes to accompany the Tour recording) Last night's action was nothing but noise -- its fresh low is shallow, and its range is sideways. Its brief weakness may still be predictive, suggesting a narrowly ranging morning ahead. We'll monitor the Dry Cleaners morning for any confirmation, but meanwhile be careful not to force a trade to happen when it's not actually there. Breaking too late from a sideways overnight range tends to fail, so we'll also monitor for that opportunity to briefly fade a trending attempt. Meanwhile, the rally's 3033.00 and potentially 3066.00 targets remain in-play if a rally attempt were to gain traction. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 under 3020.75 would be likely to trigger the 3022.00 bias-down signal at 10:15. Exiting the open above 3025.25 would be unlikely to trigger bias-down.

Sideways overnight range waits too long to break. The setup I described during the Market Tour is a late-Globex break. It can be found toward the end of a relatively narrow sideways overnight range. Strong hands probably aren't sponsoring a breakout attempt that waits until 1-2 hours before the open. Its trending attempt can vary in degree. But it's often proved false, and reversed back into or even through the overnight range. That's what happened before today's open. The overnight range began breaking higher exactly 2 hours before the open. Breaking 60-90 minutes pre-open is optimal, but 2 hours pre-open is still suspicious. As this morning's late breakout makes obvious. A fresh overnight high up to 3027.25 went nowhere but sideways into the open. Almost immediately, price began collapsing. The 3022.00 bias-down signal triggered, and the 3014.00 bias-down target has been attacked to within 6 ticks. The low's retest is likely for its timing, as well as the lower bias-down target, but regardless of its oversold RSIs. Probing under it has room to test 3009.75 before suggesting anything deeper than a temporary pullback has formed.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3024.25 3025.25 ...would target 3029.75 3030.75 Bias-down: under 3017.50 3018.75 ...would target 3010.50 3011.75 Signal status: waiting for trigger . 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.

Dry Cleaners morning avoided, or just delayed to the afternoon. The open's break under 3023.50 went on to trigger the 3022.00 bias-down signal, and come within 6 ticks of its 3014.00 bias-down target. Oversold RSIs formed during the first hour, so they don't require the low's retest. Only the bias-down target's "unfinished business" does. The low's timing suggests its retest is likely, too. None of which has prevented bouncing back up to 3023.50. Its retest began during the bias environment exit and has repeated coming out of the noon hour. Its resistance inhibited touching this afternoon's 3025.25 bias-up signal. It should define the afternoon no-bias environment's upper-end. Back under 3020.00 would start to signal the low's retest underway. Its delay could rally first to fresh highs.

Sunday night's narrow sideways 3020.00-3026.00 range threatened to persist into Monday's open, which often becomes a "Dry Cleaners morning" that's better spent running errands. Instead, breaking higher too close to the open formed a different setup that is often reversed back into the overnight range. The setup also often reverses through the overnight range. So, the late breakout's pre-open failure from 3027.25 extended its reversal back down under the overnight low to 3015.50. The setup was a success, but the 3014.00 bias-down target it triggered was left outstanding as "unfinished business." Bouncing back into the noon hour got back up to 3024.00, and peaked for the balance of the session. Suddenly the Dry Cleaners morning became a Dry Cleaners afternoon, ranging narrowly sideways down to 3020.00. The 3014.00 unfinished business can be neutralized overnight, potentially down to 3011.50 or 3009.75, before suggesting that Tuesday will dip, too. Alternatively, the 3014.00 unfinished business can be ignored as the rally resumes up to 3033.00 and potentially 3066.00 before collapsing. 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 3024.25 3025.25 ...would target 3029.75 3030.75 Bias-down: under 3017.50 3018.75 ...would target 3010.50 3011.75 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.