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... Gapping up Wednesday to 2658.00 and dipping immediately to 2651.00 was recovered to attack the 2667.00 overnight high. The bias-up environment extended through its exit to attack 2671.00, only touching Tuesday's high. Up 39 points from the 2632.25 overnight low, and still only an "inside day," which pre-holiday evaporation wouldn't help to change. Instead, the afternoon ranged narrowly sideways at the afternoon's 2662.00 bias-down signal. The 3:10-3:20 proxy window broke lower to retest the 2651.00 post-open low. Futures continued sliding to the 2647.75-2648.50 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement between Tuesday's close and Wednesday's gap up, natural support. Overnight action's new info... Wide, choppy ranging around Wednesday's close had developed through midnight. Breaking lower into and out of Europe's opens fell to what is Friday morning's 2636.00 bias-down target. Its reaction consolidated back up to 2646.00 before breaking lower again to 2627.00 and ending Globex in a test of Tuesday's 2632.50 lows. Thursday night ranged between 2634.00-2646.00, currently testing its lower-end. If, then... (notes to accompany the Tour recording) 2654.00 and 2635.00 were the decline's next lower targets. Their first tests were Tuesday morning, and reacting up had resolved back down into their retests. Having bounced back above them Wednesday, their retests today offer another opportunity to react up. Resolving down again would be likely also to resume and extend the decline, whether today or next week. Reacting up would be a little less likely to resume the decline next week, because the price action of today's holiday-shortened session won't be very predictive. Meanwhile, their retests need not react up post-open at all, and probably won't if not reacting up very early. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 under 2632.00 would be unlikely to recover the 2636.00 bias-down target by 10:15 to renew the bias-down signal. Exiting the open under 2640.75 would be likely at least to trigger the 2645.00 bias-down signal at 10:15.

Post-open bounce still triggers bias-down. Overnight ranging between the 2636.00-2645.00 bias-down parameters had broken lower within 30-60-90 minutes before the open. And not by a little, sliding quickly to retest Wednesday's night's low by 1 point down to 2626.00. Its reaction greeted the open already testing a 2630.75 buy signal. Although it would have made a more credible bottom to first retest the overnight low, the first half-hour extended up to 2643.00. Nevertheless, RSIs diverged negatively into its retest, stopping 6 ticks short of even touching the 2645.00 bias-down signal. This is a bias-down environment. Its bias-down target was already met, and not broken through 10:15 to renew the bias-down signal. But RSIs continue deteriorating, and the reaction down is now testing 2633.50. The 2636.00 bias-down target is still support. Exiting the bias environment above it would normally suggest that sellers had lost traction. Today the bias environment exit is essentially the early close. Extending down under overnight lows would next target a retest of 2603.00.

Friday was essentially another inside day compared to Tuesday, ranging exclusively under Wednesday's other inside day. Any other session would have considered this to be bearish, and closing at intraday lows would have been a compelling hold-short, especially for still not rallying out of the 2635.00 test. But lower participation undermines that predictability. So, the late 13-point slide back to and through the 2631.00 open didn't qualify for a hold-short. Any delay in recovering Monday makes a retest of the recent 2603.00 likelier. Details and other markets coverage are discussed in the post-market Wrap recording here. THERE IS NO SATURDAY REVIEW DUE TO THE HOLIDAY. chaRTroom will re-open at 6:00 pm ET Sunday with Globex.

MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2637.50 2638.00 ...would target 2644.50 2645.00 Bias-down: under 2627.00 2627.25 ...would target 2620.50 2620.75 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . NEW: 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.