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) Early strength Friday would have been credible for avoiding the unfinished business outstanding below at 2981.00. Pre-open strength had already begun reversing down from testing 3001.00, and the unfinished business greeted Friday's session already reversing down. Aggressive selling through the morning collapsed into the noon hour's drop to 2975.00. Natural support at the gap back to Tuesday's 2977.00 open held its test, bouncing back up to attack 2995.00. The final hour reacted down to 2985.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Friday morning's decline hasn't resumed, as firming threatens again either to explode higher, or to fizzle out. Sunday night's open almost immediately began to retrace Friday's late pullback. A fresh recovery high tested 2997.00 which has held two subsequent tests as resistance. That includes recovering from an interim dip into Europe's opens at 2989.50, a 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement back to the open's low. Its quick recovery to retest 2997.00 resistance has yet to improve. If, then... (notes to accompany the Tour recording) Friday's pre-open strength had reached the precipice of setting a bullish tone for the morning before snapping back down aggressively. Now last night's flat-to-higher action is threatening the same potential aggressive -- explosive? -- upside, but at this moment only sits at the precipice that could still resolve down. The upside is most credible by gapping up at least above Friday's late 2994.50 high, around which overnight action still fluctuates. Another failure to exploit the overnight optimism, reacting down again, would target Friday's 2975.00 low, which has no bullish reason to be retested. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 above 2995.50 would be likely to trigger the 2992.75 bias-up signal at 10:15. Exiting the open under 2990.75 would be unlikely to trigger bias-up.

But probe above overnight highs is pushed back down. The overnight rally converted two 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} corrective dips into fresh highs, greeting the open in rally mode up to 3002.00. Post-open action soon probed even higher attacking 3004.00. But ultimately the first half-hour probed back under the 2999.50 opening print. And ultimately the reversal held 2994.50 after RSIs had already stopped deteriorating. All of which developed well into positive territory, and just above Friday afternoon's high. The gap up had been maintained, and a lot of selling pressure was expended without gaining any traction for its effort. Also, bias-up triggered, putting into play a retest of its 3000.50 bias-up target. The premise for being long is more bullish than just that, also anticipating the evolution into a bigger rally as described during the Market Tour. Otherwise, back under 2996.50 would start to signal that sellers are retaking control.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3003.75 3003.00 ...would target 3008.75 3008.00 Bias-down: under 2996.00 2995.50 ...would target 2988.50 2988.00 Signal status: noN-BIAS, STILL TESTING BIAS-UP SIGNAL . 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.

Still hovering at the highs. Gapping up and trending relentlessly higher. Sounds bullish, forceful, and not at all like today's pattern. But that's exactly the description for today's session, whose opening high probed all of Friday's range, and whose noon hour high probed even higher. It's a tactile illusion, having ranged 5 points either way around the 2999.50 open, reversing from above the open to below it and back up again. All of which continues developing in positive territory. Either a slow-motion rally is underway, or the lethargic gains will evaporate and reverse at the first pushback. If extending higher, the rally should almost literally explode higher at the point of equilibrium where resistance is finally chipped away. Otherwise, having trended up slowly, would likely collapse. We're still giving the upside a benefit of the doubt until proved otherwise. Meanwhile, this is a noN-bias environment, still testing the 3003.00 bias-up signal at both 1:20 AND 1:30. Its target isn't in-play, but its signal need not hold as resistance.

Monday's session barely seemed like a rally, but it was. Reacting down from the gap up still held above the prior afternoon's high. Its recovery probed higher into the afternoon. And it was the highest close in weeks -- albeit under recent intraday highs. To the degree that Monday's session did seem like a rally, it seemed like a "session-long rally," but it wasn't. Gapping up above the prior afternoon's high rejected the prior session's closing dip, similar to the session-long setup. But that qualifies when the prior afternoon's high is printed AFTER the bias environment begins lapsing. Friday afternoon's high came later. Nevertheless, all but one of Monday's timing windows probed its prior timing window's high. Which would fulfill a session-long rally setup. And if the market wants to produce session-long rally behavior, then that might include the subsequent session's likelihood for extending higher. Which happens to be the pattern's likely path higher, anyway. More so, after eking higher intraday, extending higher Tuesday should almost literally explode higher. The next attraction above would be 3013.00-3014.00. There is otherwise downside potential to correct Monday's rally, but retracing it would equate to rejecting it, and to reversing the trend back down. 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 3011.75 3011.00 ...would target 3018.75 3018.00 Bias-down: under 3000.00 2999.50 ...would target 2992.75 2992.25 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.