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) Rallying since Friday's close was substantial, but hasn't yet retraced Thursday's late break from 3802.50-3805.50 to confirm the interim dip was weak-handed. The noon hour's 5-stage pattern marginalized sellers to trend up through the bias window. The likelihood for extending even higher may have been inhibited by anxiousness ahead of post-close earnings. Not extending higher during the final hour resulted in closing at the 3790.00 opening print. Overnight action's new info... (nearby chart is last intraday session and Globex) The Globex open immediately rallied through Monday's high to attack 3804.00. Retracing it all by midnight never probed any lower before repeating the earlier rally. The second try has been more productive, testing 3808.00. If, then... (notes to accompany the Tour recording) Closing flat yesterday with its open had made trending in either direction this morning likely to begin by gapping open. And yesterday afternoon's restrained optimism had made the recovery likely to resume. Even the last-minute pullback was a compelling hold-long. Meanwhile, yesterday afternoon's 3803.00 unfinished business is now neutralized. This leaves another attraction at 3819.00, a required new high close above 3824.50. The ongoing trend's next target at 3884.00 might even come into view on a rally day. We'll consider a sell signal if presented, but the alternation rule suggests resolving differently than immediately backing-and-filling, since yesterday's gap up is being repeated immediately. Also, now retracing Thursday's late break lower confirms its sponsorship was weak-handed. Bias Parameters... (linked here)

Gap-and-pause forming? Several factors had made this morning likely to trend up, even before yesterday's 3790.25 close. The afternoon's restrained optimism and last-minute rubber band stretch. Gapping up despite no upside traction. And the alternation rule suggesting a gap up wouldn't back-and-fill. The 3815.50 open quickly absorbed an immediate bobble before extending to an objective at 3831.00. A close-quarters double top just reacted down very shallowly before recovering to fresh highs at 3835.00. Trending up through the morning or probing higher during the noon hour would form the basis for a gap-and-pause setup. The balance of the session would fluctuate around the earlier highs, and tomorrow would be a pullback day before resuming the rally Friday or Monday. Extending the rally today would next target 3840.75 and potentially 3847.50. Back under 3829.00 would target a pullback to 3820.00.

WED P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3838.25 signal would target 3847.00. BIAS-DOWN: under 3825.00 signal would target 3817.00. NO-BIAS: between both signals. WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3846.25 3838.25 ...would target 3855.00 3847.00 Bias-down: under 3832.75 3825.00 ...would target 3824.75 3817.00 Signal status: BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE

Sharply higher highs. The morning bias window's 3835.50 high corrected by 9 points and was recovered at noon. Narrow, orderly uptrending since then just tested 3847.00. Meanwhile, this afternoon's 3838.35 bias-up signal triggered, and its 3847.00 bias-up target is met. It won't become unfinished business if left outstanding. Still trending up into the noon hour's exit, let alone higher since then, has disqualified today from forming a gap-and-pause setup. Tomorrow won't necessarily be a pullback day, and a down day tomorrow won;t necessarily recover. Next higher potential attraction is 3857.00. Closing above last Friday's high would leave only the rally's 3884.00 target outstanding.

Unfinished business from Tuesday at 3803.00 was neutralized before Wednesday's open, and from last Thursday at 3819.00 after the open. The alternation rule had made Wednesday's gap up unlikely to reverse down post-open, and gapping up without traction was likely to extend higher through the morning. It extended higher through a late high at 3852.50. A very late reaction down to 3840.00 closed at 3843.00, still fulfilling the last unfinished business of a new high close above 3824.50. Only the trend's next higher objective at 3884.00 remains outstanding, but no separate structural or calculable objectives. Wednesday's narrowing breadth makes Thursday more vulnerable to a pullback, with room for backing-and-filling down to 3800.00-3810.00. Extending higher first instead would setup a violent reversal back down. 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].

THU A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3849.75 signal would target 3861.00. BIAS-DOWN: under 3835.75 signal would target 3824.50. NO-BIAS: between both signals. THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3857.75 3849.75 ...would target 3869.00 3861.00 Bias-down: under 3843.50 3835.75 ...would target 3832.25 3824.50 Signal status: LATE BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE