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) Being the first day following Monday's Gap-and-Go session, Tuesday ranged flat-to-lower. Its pre-open rally from 3192.00-3203.50 was retraced by 50{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} post-open. Ranging narrowly sideways around 3198.50 into the last half hour finally broke lower to 3194.50. Coming to within 3 ticks of the morning's bias attraction below neutralized it. Overnight action's new info... (nearby chart is last intraday session and Globex) Tuesday's late drop extended down into the Globex open's touch of 3192.50. Its reaction tested 3196.00 and ranged sideways through midnight. Europe's opens were greeted back down at 3192.00, which also had been the prior night's low. Its retest also launched a rally, but so far only back up to 3199.00, which has now reacted back down to 3196.00 If, then... (notes to accompany the Tour recording) Monday's sponsorship of its Gap-and-Go is eventually rewarded with a probe of fresh highs. That's easier now, having neutralized Tuesday morning's "unfinished business," and also having fulfilled the Gap-and-Go setup's pullback session. But Tuesday's pullback being so shallow at least maintains the vulnerability to extend down first, and last night's dip makes it likelier if not already rallying at the open. Fresh pullback lows could test the 3181.50 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement of the Fri-Mon Gap2Gap, and potentially 3175.50. Already gapping up Wednesday would at least temporarily end the pullback. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 under 3197.00 would be unlikely to trigger the 3199.00 bias-up signal at 10:15. Exiting the open above 3201.75 would be likely to trigger bias-up.

Post-open rally falls flat. The relatively narrow overnight range, and its bounce to 3199.00 resistance, had made a pre-open reaction down the likeliest path to trending down this morning. But the bounce's reaction down recovered pre-open to form an Ascending Triangle at resistance -- and to offer another path down. Breaking out from the triangle and then reacting down by enough would signal the breakout was false. I identified this false break limit as 3201.50, which was tested post-open by 2 ticks. Reacting down through 3199.75 triggered its reversal, which has extended down to 3195.50. 3195.50 is natural support, filling the gap back to unchanged. Bouncing back up to the 3199.00 bias-down signal invoked the grace period, but no-bias was triggered. An offsetting test of the 3191.50 bias-down signal is in-play. Back above 3200.50 would start to suggest another bounce underway. Meanwhile, the bias-down signal's test could be extended down to 3181.50 and lower.

WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3199.25 3203.25 ...would target 3204.75 3208.75 Bias-down: under 3192.00 3196.25 ...would target 3186.50 3190.75 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.

Still just noise. Not gapping down or gapping up had made trending this morning unlikely. The pre-open's Ascending Triangle offered another path down, by rejecting a false breakout. Which it did, from 3202.00 down to 3195.50. Failing to trigger bias-up put into play an offsetting test of the  3191.50 bias-down signal. Which was ignored by a rally to fresh session highs at 3203.00. So, this morning's 3191.50 bias objective has become "unfinished business" below. Meanwhile, now there are two false breakouts. The open's brief surge, and then the morning's later detour. The latter has resolved down, too, for a second chance at fulfilling the 3191.50 "unfinished business." Neither of the afternoon's 3196.25 bias-down nor 3203.25 bias-up signal was touched, so this is a no-bias environment. Probing either end before the window lapses would be "no-bias trending" that requires being retraced -- fresh lows or fresh highs remain possible, although not even being hinted at currently.

Wednesday was the same as Tuesday. But different. The overnight range was only 7 points deep, and the intraday range was narrower. Recovering from 3192.00 opened at 3200.00 on the way to 3202.00. Reacting down to 3195.50 avoided triggering bias-up, putting into play a test of the bias-down signal. That didn't prevent bouncing back to the high at 3203.00, but it might have prevented bouncing higher. A shallow dip back down to 3198.00 during the noon hour produced a shallower bounce, trading sideways in a 3-point range through the close. Actually, the 3-point range persisted until the final minute. The last half-hour got volatile, producing a last-minute blip-down to 3196.00. But only momentarily, as futures retraced the blip-down back to 3199.50. The morning's 3191.50 bias objective becomes "unfinished business," and testing it could be probed down to 3181.50 or even to 3174.00 as only a temporary detour. Gapping up Thurdsay would be likelier to extend higher intraday. 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 3199.25 3203.25 ...would target 3204.75 3208.75 Bias-down: under 3191.25 3195.50 ...would target 3183.75 3188.00 Signal status: NO-BIAS . 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.