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) Wednesday's open was greeted by the 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} retracement of an otherwise relentless overnight rally from 3139.50 up to 3150.25. An immediate post-open dip retraced much of the rest of the rally down to 3142.25. That was enough to inhibit strong-handed sellers from reinforcing the retracement. But it slow a recovery until the bias environment had begun lapsing. By then another relentless rally was underway, which extended to 3155.00 by the close. "Unfinished business" remains above at 3156.00, albeit deprecated for being the product of a low volume environment. Overnight action's new info... (nearby chart is last intraday session and Globex) After Wednesday close Trump backed the Congressional support for Hong Kong's protesters. The Globex open spiked back down to entirely retrace the morning's lows down to 3140.75. Hovering there through midnight and Europe's opens finally started to correct much of the headline reaction. Thursday night's Globex open finished correcting it up to 3152.00 before reversing to attack earlier lows down to 3141.75 through Europe's opens. A bounce is now testing 3149.00 as resistance. If, then... (notes to accompany the Tour recording) Wednesday's post-close collapse singularly represents the two greatest consequences of today's low-volume, abbreviated session. First is the range available to a knee-jerk reaction. Second is the lack of reinforcements. Many participants are unavailable, and the illiquidity allows sharp, brief moves. We'll still monitor the open for an initial trending attempt, and then look for the organic move that follows its successor failure. Don't overestimate the ability to start trending from nowhere, and don't underestimate the ability to extend a trend already underway before the close. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 under 3143.00 would be likely to trigger the 3145.75 bias-down signal at 10:15. Exiting the open above 3150.50 would be unlikely to trigger bias-down.

Noise in a small range. The open was greeted at 3148.00, somewhat closer to the 3151.00-3152.00 overnight highs than to the 3142.00 overnight lows. Room back down to the lows shrank with the open's two dips that tested 3145.00. And only became further removed from Wednesday afternoon's 3155.00 high. None of which tested a relevant prior high or prior low. So, neither could be exceeded or held. Less enthusiasm by early sponsorship on this abbreviated session means less reward for it extending or for it being absorbed.

Example: The test of 3145.00 soon bounced 5 points to test 3150.00, which is being retraced already to test 3147.00.

That latest dip retraces 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of the 5-point bounce. Back above 3149.00 would signal the retracement is resolving up. Its sponsorship would be rewarded because the earlier low had also held a test of this morning's 3145.75 bias-down signal, and that put into play an offsetting test of the 3156.00 bias-up signal. Flat or flat-to-higher gets a benefit of the doubt, more so on any post-open high, or probe above the 3151.00-3152.00 overnight highs. Soon. Delaying a recovery much longer would more likely remain trapped in a directionless range.

November's last trading day was the day following Thanksgiving. That is always Friday, always one day prior to the weekend, and always accompanied by the annual spousal question: "Why even bother opening?" Volume already evaporated, trending would be difficult to generate. Even Wednesday night's Globex plunge from 3155.00 to 3142.00 held prior lows, and interim price action only ranged sideways back up to 3151.00-3152.00. Friday's open was even shallower. The first hour's two sizeable sudden swings reflected the illiquid environment. A post-open dip to 3145.00 held the bias-down signal which put into play an offsetting test of the 3156.00 bias-up signal. It would be attacked to within only 6 points, left outstanding along with Wednesday afternoon's 3156.25 bias-up target. Their upside credibility suffers since each was a product of the low-volume holiday environment, but I still consider them to be "unfinished business." But downside credibility suffers, too, for sellers having failed in several attempts to break lower. Avoiding early weakness coming out of the weekend would grant credibility to the upside attractions. Otherwise, breaking lower could target 3100.00-3103.00, if only to correct the ongoing rally on the way to its 3203.00 target. Details and other markets coverage are discussed in the post-market Wrap recording here. NO SATURDAY REVIEW THIS WEEKEND, CHARTROOM RE-OPENS SUN 6 ET.

MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3148.00 3147.50 ...would target 3153.25 3152.75 Bias-down: under 3138.75 3138.25 ...would target 3132.00 3131.50 Signal status: BIAS-DOWN, BIAS-DOWN TARGET EXCEEDED . 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.