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) 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. Overnight action's new info... (nearby chart is last intraday session and Globex) Wednesday's very late dip was soon recovered on the way to new highs attacking 3860.00 into midnight. Complexity along the way formed a Globex trend extreme. Retracing back under Wednesday's high to 3848.00 has ranged sideways there since Europe's opens. If, then... (notes to accompany the Tour recording) Yesterday's new high close above 3824.50 fulfilled the last unfinished business. Right on schedule, overnight created more with a Globex trend extreme that requires intraday retest. That's often done the same day, but not necessarily. Regardless of the trend's next higher outstanding objective at 3884.00, Wednesday's narrowing breadth has increased the vulnerability to a pullback. Backing-and-filling has to test 3831.50, and any lower would target the 3815.00 area. Fulfilling the rally's objective first would setup a violent reversal back down, especially if breadth continued deteriorating. Bias Parameters... (linked here)

After quite a detour. A spike down to fresh overnight lows bounced from yesterday's 3843.00 close, opening 1 tick short of the 3849.75 bias-up signal. Another drop there fell to fresh lows at 3836.50.

That lower low found 3 forms of support: attacking the 3835.75 bias-down signal to within 3 ticks, on simultaneously oversold RSIs,

and waiting so long to try probing under the 3840.00 earlier Globex low. All of which could have been absorbed, but instead reversed the trend back up. Bias-up triggered late, and now its 3861.00 bias-up target is in-play. Add it to the 3859.75 Globex trend extreme requiring intraday retest. Back above 3853.50 would help to confirm upside attractions will be tested sooner, rather than later. Otherwise, back under 3848.50 would start to signal an even deeper detour from the new unfinished business above.

THU P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3851.50 signal would target 3861.00. BIAS-DOWN: under 3839.25 signal would target 3831.50. NO-BIAS: between both signals. THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3859.00 3851.25 ...would target 3868.75 3861.00 Bias-down: under 3846.75 3839.25 ...would target 3839.00 3831.50 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE

It's not over, yet. An offsetting test of this morning's bias-down signal at 3861.00 was left outstanding to become unfinished business. Add it to the overnight Globex extreme that requires an eventual intraday retest. The morning's recovery attempt was replaced by an attack on the morning's lows down to 3837.00. That was the noon hour low, which ultimately held this afternoon's 3838.25 bias-down signal. No new offsetting test is in-play, but a bounce is now attacking 3348.00. That's still close enough to session lows for the bias window exit to be vulnerable to breaking lower. Exiting the bias window in the 3850.00's could be far enough from the downside vulnerability to attract sponsorship for a retest of overnight highs.

Complexity during Wednesday night's 3859.75 high qualified it as a Globex trend extreme that requires eventual intraday retest. Thursday morning's 3861.00 bias objective was left outstanding to become unfinished business. And despite ranging widely sideways intraday up to 3853.50, bullish PM Traction formed that anticipates Friday morning will trend up. The bullish influences can be overridden by specific post-open behaviors. Gapping down is not one of those behaviors. Even if the morning trends up, nothing will marginalize sellers when breadth continues to deteriorate despite the market sitting at trend highs. 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].

FRI A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3853.50 signal would target 3862.75. BIAS-DOWN: under 3840.75 signal would target 3831.50. NO-BIAS: between both signals. FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3861.25 3853.50 ...would target 3870.50 3862.75 Bias-down: under 3848.25 3840.75 ...would target 3839.00 3831.50 Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE