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) Sunday night's 40-point opening collapse down to 3243.00 retraced all of Friday's last-minute surge. All of which was recovered, ranging narrowly through midnight and Europe's opens. An eventual breakout got to 3322.50 before a pre-open pullback. Its post-open retest by 1 point was reversed back down to the afternoon's 3272.00 low, still holding positive territory. Rallying up to 3306.00 fluctuated through the close around the 3302.00 open. Overnight action's new info... (nearby chart is last intraday session and Globex) Monday's late bounce immediately extended through the Globex open, and up to within 1 tick of the 3325.25 bias-up target. Reacting down into midnight bounced off of the 3311.75 bias-up signal. Europe's opens resumed the rally to attack 3350.00, into last Tue-Wed gap-to-gap sweet spot. Backing-and-filling down to 3337.50 is now trying to recover. If, then... (notes to accompany the Tour recording) Relentless overnight trending is depending on confirmation during the first 15 minutes that reinforcements have arrived to extend higher this morning.  Alternatively, the open's window can indicate counter-trend sponsorship will reverse price down into noon. The latter seems likelier, with a little more room still available up to the gap-to-gap's 3353.50 central resistance. Any higher any later might require stronger-handed sponsorship whose participation is unlikely today. But I'll give buyers every benefit of the doubt if the first 15 minutes trends up and/or holds above overnight highs, potentially targeting 3427.00. But look out below if the first 15-minute range's low is broken through 10:00. Lower prior highs around 3322.00 would be an attraction. Reversing down is also difficult to extend, which would have room to retest last week's lows under 3220.00 to the 3200.00 area. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3228.00 would likely exceed the 3325.25 bias-up target at 10:15 to renew the bias-up signal. Exiting the open above 3217.75 would be likely at least to trigger the 3311.75 bias-up signal.

Everyone thinks their candidate is crushing it. Well, maybe not Jo Jergensen's supporters. But why not. Anyway, the overnight attack on 3350.00 had backed-and-filled for 4 hours to greet the open at 3337.00. A quick dip to 3331.50 was soon reversed back up to likely recover the overnight high. Recovering the overnight high was likely to test the 3353.50 gap-to-gap attraction. It was certainly resistant, but soon chipped away as the rally extended sharply higher to test 3381.00. Resuming the rally would next target 3394.00, and then 3427.00. Only probing 3381.00 (now being probed by 2 points) without resuming the rally, could hover sideways through the afternoon, forming a gap-and-pause setup that dips tomorrow before resuming the rally. Hovering sideways through the close would be allowed a brief dip to 3350.50. But any lower would be too deep for the gap-and-pause setup, and could trend down through the close.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3381.75 signal would target 3394.00. BIAS-DOWN: under 3363.75 signal would target 3353.50. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3389.00 3381.75 ...would target 3401.25 3394.00 Bias-down: under 3370.75 3363.75 ...would target 3360.50 3353.50 Signal status: noN-BIAS, STILL TESTING BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE

Election anxiousness grips the  nation  market. Trending up into the bias environment's exit has since drifted back down. The backing-and-filling from 3383.00 just touched 3357.00, still well into positive territory. This afternoon's 3363.75 bias-down signal was still being tested at both 1:20 and 1:30 to trigger noN-bias. Not bias-down putting into play its target. And not required to hold the bias-down signal as support. Often a noN-bias environment behaves like no-bias, and ranges sideways. That's not necessarily the case right now. Extending down to the 3353.50 bias-down target would have room down to 3350.50. Any lower would retrace more than 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} back to the open. And that would invalidate the gap-and-pause setup that is otherwise forming. Buyers wouldn't have earned the reward of resuming the rally after inserting a pullback day -- and the pullback day would effectively have been this afternoon. Tonight's action will be interesting, and I'll be annotating the chart as price movements dictate.

Tuesday's action was baked-in and front-loaded. Relentless overnight trending from Monday's 3302.00 close had attacked 3350.00, and the open's surge extended to attack 3383.00. A bullish gap-and-pause (which I mislabeled as gap-and-issue earlier) failed to form when the reaction down retraced more than 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} back to the open at 3348.00. The balance of the session attacked earlier highs, where the 3381.75 bias-up target's resistance reversed entirely back down to 3346.50 through the close. The last half-hour essentially repeated the intraday pattern, and spanned almost its entire range. Surging 28 points and then collapsing 34 points so quickly was just more of the same malleability that almost guarantees volatility remain extreme. So, even if having complete certainty in the ultimate direction, nothing prevents an extreme detour on the way there. While the gap back up to last Tuesday's high was actually filled intraday, the cash session close had retraced the 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} gap-to-gap proxy. At least closing above it could have suggested the gap's resistance was being chipped away. But its reaction was just deep enough to reflect that buyers were weak-handed. And they expended a lot of energy Tuesday, while neutralizing the attraction above. I'll be annotating the chart and commenting in the chaRTroom if election chatter triggers any relevant market moves. 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].

WED A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3371.75 signal would target 3381.50. BIAS-DOWN: under 3346.75 signal would target 3334.50. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3379.00 3371.75 ...would target 3388.75 3381.50 Bias-down: under 3353.75 3346.75 ...would target 3341.50 3334.50 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE