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

CHARTROOM LINK (pre-open Market Tour begins at 8:55 ET)

Through the prior close... Friday's gap up to 2164.00 originated too late to be credible, warning early that the 2161.50 bias-up signal wouldn't trigger. Its 2152.00 objective was tested down to 2149.00. The bullish WedEX accompanied an afternoon recovery to 2157.00 before news of Turkey's coup pushed price down into the close. Post-close action gapped down and extended sharply lower to 2143.00, 11 points under the cash session close. Overnight action's new info... The coup didn't succeed, if it was even a coup. Sunday night's 2154.50 open immediately retraced everything under Friday's cash session close. Immediately extending higher attacked 2161.00 before settling back down to 2155.00. Surging again through Europe's opens tested 2163.00. That has also settled back down to 2155.00. If, then... I had published Monday's bias parameters before Friday's post-close plunge. The 2143.00 bias-down target defined the plunge's low, and the 2163.75 bias-up target defined last night's high. Since those levels are calculated from price action through Friday's close, that helps to confirm expiration remains influential. Post-open action remains likely to fulfill the bullish WedEX signal. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2161.00 would be likely to trigger the 2158.00 bias-up signal at 10:15. Exiting the open under 2153.00 would be unlikely to trigger bias-up.

Post-open dip recovers well into positive territory. The opening bar touched Friday afternoon's 2157.25 high. Reversing down tested the preliminary 2153.00 indication. Its break through 9:45 would have made the 2158.00 bias-up signal unlikely to trigger. It held. That was the opening 15 minutes of volatility. The balance of the opening hour has trended up relentlessly to 2160.00. Bias-up triggered late, but its 2163.75 bias-up target is nonetheless in-play. And the bullish WedEX remains intact. A spike up to 2161.50 tested 2160.00, which was the preliminary upside indicator. Although not touched by 9:45 like 2153.00 below, it's still resistance. Preferably, its reaction down will hold 2158.75 before resuming the rally.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2170.75 2164.50 ...would target  2176.25  2170.25 Bias-down: under  2161.25 2155.25 ...would target 2154.75 2148.50 Signal status: NO-BIAS FAQ 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.

Awaiting more sponsorship. The bullish WedEX is now moot. A 2-point post-open dip to 2153.00 support was reversed up to 2162.00. Bias-up triggered, putting into play 2163.75 which is now "unfinished business above." This afternoon's no-bias environment can fluctuate between its signals. That allows room to this afternoon's 2164.50 bias-up signal, which encompasses the unfinished business above. No further rally today is required. But exiting the bias environment under the noon hour's 2157.75 low would be the first indication that this afternoon won't likely rally.

The week got off to a fast start, gapping up from Friday's post-close Turkey leg under 2152.00 and extending higher overnight to 2163.75. The day got off to a slower start, detouring into negative territory at 2153.00 but only to test and hold support for a bounce up to 2162.00. Then the day all but stopped, recovering from a relatively shallow noon hour dip back up to the morning's 2162.00 high. Buyers gained no traction for the effort, but left outstanding unfinished business above at 2163.75. Last week's new Globex trend extreme at 2168,00 already requires an intraday retest. Only a significant gap down would break free from their attraction. 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  2169.25 2163.00 ...would target  2174.75  2168.75 Bias-down: under  2160.00  2154.00 ...would target 2153.75 2147.50 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL FAQ 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.