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

DAILY SCHEDULE Watch the pre-open Tour recording* HERE <<== *Manually open Adobe Connect (install on Windows or Mac), then paste the recording's link there. chaRTroom** is now open... Pre-open update is at 9:15 ET **This is NOT the direct chaRTroom link

Through the prior close... (summary of last Market Wrap) Three consecutive sessions of expanding range assured a wide-ranging expiration session. Friday's range from the overnight slide to 3357.00 back up through its intraday rally to 3396.25 was only 3 points narrower than Thursday. Thursday's bullish PM Traction influence enabled the pre-open recovery and morning rally. But two shallow no-bias windows never stretched the rubber band to enable its snap back down. Wednesday's prior high was pierced by 1-2 ticks while producing a new high close at 3393.50. Overnight action's new info... (nearby chart is last intraday session and Globex) Gapping up above prior highs to 3399.00 ranged flat-to-higher around Friday's late highs. Already having eked higher through 3400.00, a more obvious rally began after midnight that is now deeper into new high territory testing 3422.00. If, then... (notes to accompany the Tour recording) No counter-trend effort was underway as of Friday's close to undermine at least probing fresh highs, but this is not just probing fresh highs. Gapping up above all prior highs doesn't ensure extending higher intraday. Extending higher intraday wouldn't prevent reversing down sharply before the close. But gapping up above all prior highs does prevent a reversal down from being durable, because gaps up above all prior highs require being filled from below. Gapping up sharply does create a lot of room to expend selling pressure before it can damage the chart, which rallies do often allow. Stopping short Friday of probing or closing above Wednesday's highs, and last week's very borderline bearish WedEX, warns that selling pressure may resume post-open. Just avoiding post-open downtrending can be enough to extend the rally this morning. This weekend's Saturday Review discussed the potential for interim AAPL and TSLA pullbacks before their upcoming splits. Market Tour describes how the Relentless Overnight Trending setup can be predictive of this morning's trending. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3411.00 would be likely also to exceed the 3408.00 bias-up target at 10:15 to renew the bias-up signal. Exiting the open above 3401.50 would be likely at least to trigger the 3398.75 bias-up signal. Exiting the open under 3390.75 would be unlikely to trigger bias-up.

Live by anti-virus news, die live again by anti-virus news. Sunday night's Globex open was greeted by a favorable anti-virus headline. Trending up to 3424.00 gapped up sharply never extended any higher, but the 3420.50 open's pullback had not formed a downtrend by 9:45. Upside remains intact, although its momentum needed refueling.

Which is exactly what a deeper pullback to 3412.50 was trying to accomplish, targeting at least 3411.00.

Then came another favorable anti-virus headline, triggering a surge to within 2 ticks of the pre-open high. It could have extended higher, like last night's reaction. The market is obviously in a mode to respond well to anti-virus news. But the post-open headline's reaction is already retraced back to fresh lows at 3409.75. The 3411.00 objective probably no longer suffices, and can be probed down to 3404.00-3406.50. All of which would come from a position of strength likely to recover, but from much lower and later if 3404.00 doesn't hold.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3422.25 signal would target 3431.50. BIAS-DOWN: under 3411.00 signal would target 3404.00. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3426.00 3422.25 ...would target 3435.25 3431.50 Bias-down: under 3414.50 3411.00 ...would target 3407.50 3404.00 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.

Hanging at the highs. Not trending away from the 3420.50 open is a little surprising. Its 3411.00 minimum corrective target was attacked and probed, before and after blipping-up in reaction to another anti-virus headline. 3411.00 ultimately held, and its potential down to 3404.00-3406.50 wasn't exploited. But the rubber band wasn't stretched deeply enough for its recoil to resume the overnight rally. So, a relatively narrow 5-point range between 3415.00-3420.00 began as the bias window began lapsing at 11:30, and has extended into the afternoon's no-bias window. Fresh highs would target an attack on 3429.00, but fresh highs aren't currently in-play. Fresh lows would still target 3404.00-3406.50 and any lower would target negative territory. The pattern of structural difficulties in extending the rally last week still seem intact. Meanwhile, kinks are showing in the armor of AAPL and TSLA. Each reversed gaps up to new highs, with TSLA still back in negative territory. Whether extending lower, or holding a retest of today's opens, a pre-split pause in their rallies won't help the rally to extend.

A funny thing happened on the way to the pullback... Friday's passive retest of Wednesday's ~3396.00 prior high continued the ongoing pattern's range. But an organic pullback coming out of expiration weekend was hijacked by the favorable reaction to Sunday evening's anti-virus headline. Relentless overnight trending up to 3424.00 stopped short of its potential to 3428.75. But the final minute tested it, ending the narrowly ranging session with a break higher to 3429.50. The shallow post-open pullback -- to only the 3410.00 38.2 gap-to-gap retracement -- continues the pattern of optimism observed into expiration. Ineffectual optimism, until Monday's final minutes. If Monday's extension was from the same sponsorship, then it remains vulnerable to at least a pullback. Upon touching a prior session's range below, assuming that even happens again, Monday's 3420.50 open will become unfinished business and require being filled from below. Because Monday's rally only rewarded its sponsorship and gained no new traction for its effort, not trending up through Tuesday's open would be vulnerable to trending back down, if not already trending back down. See details and other markets coverage in the post-market Wrap recording* here. *Manually open Adobe Connect (install on Windows or Mac), then paste the recording's link there. Monitor overnight Globex trading in the chaRTroom here [NOT the direct link].

TUE A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above PRICE signal would target PRICE. BIAS-DOWN: under PRICE signal would target PRICE. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3436.75 3433.75 ...would target 3446.75 3443.00 Bias-down: under 3421.50 3418.00 ...would target 3411.50 3408.00 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL . 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.