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... Sunday night's action had promised an active session, and Monday didn't disappoint. The overnight gap down to 2774.00 had been recovered to fluctuate around Friday's 2782.50 close up to 2786.50, greeting Monday's open above prior highs at 2784.00. Having escaped last week's pattern of rejecting early fresh highs -- or, at least, absorbing the pattern when it developed overnight -- the morning did almost nothing. Actually, the morning did do one thing, ranging up to 2788.50, before the noon hour extended to 2794.25. No traction was gained during the afternoon, leaving the final hour to fluctuate narrowly sideways. A very late break under 2790.00 collapsed quickly to 2784.00-2785.00, but its timing was too late to be predictive, if it's even sustainable. Overnight action's new info... The late break proved to be temporary -- three times. It was recovered completely soon after the Globex open, back up to Monday's late sell signal at 2790.75. And then another collapse retested the 2784.00 low. Another recovery was also retraced by another collapse. Yet another recovery finally probed a fresh high up to 2792.00 into Europe's opens. That's three recoveries, but now fresh lows are probing yesterday morning's low down to 2782.50. This leg isn't a collapse, and there's no current attempt to recover it. If, then... Yesterday's 2794.25 high tested and held the rally's next higher objective of 2793.00. There's room for noise above it that could be tested by another recovery of yesterday's late drop. But there's no requirement for another recovery of yesterday's late drop. This area is the last opportunity to end a correction before starting to require new all-time highs. Regardless, last week's distribution and rotation out of leadership still threaten to repeat its pattern of rejecting a probe above the prior session's highs -- and a probe above the prior yesterday's highs would be the likely objective of any post-open rally. Otherwise, even the most bullish longer-term scenario isn't precluded from launching a pullback here, which is already underway if the open isn't rallying. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2793.00 would be likely to trigger the 2790.25 bias-up signal at 10:15. Exiting the open under 2788.00 would be unlikely to trigger bias-up. Exiting the open above 2787.00 would be unlikely to trigger the 2782.00 bias-down signal.

Actual intraday recovery holds on. Bounce after bounce after bounce overnight repeatedly recovered yesterday's late 6-point drop under its 2790.00 sell signal. Each bounce was followed by another drop. So many bounces and recoveries that the setup's likely intraday recovery (for having originated so late) could have been dismissed. But, no need for that, since the last overnight dip was also recovered to open back above 2790.00.

Which once again stopped recovering. But unlike the repeated overnight drops, the post-open reaction down was limited to 2786.00. That's natural support at yesterday's close, and it has held.

This morning's 2790.25 bias-up signal also held as resistance, putting into play an offsetting test of its 2782.00 bias-down signal. Having invoked the grace period at 10:15, no-bias triggered late. Without yet producing a fresh post-open low, its downside objective can be invalidated by exiting the bias environment at fresh post-open highs -- at least, above its bias-up signal. A fresh high post-open high would likely also retest yesterday's 2794.25 high. Otherwise, the downside objective would become "unfinished business below," likely to attract more selling pressure.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2789.25 2793.00 ...would target 2794.25 2798.00 Bias-down: under 2783.25 2787.00 ...would target 2778.25 2782.00 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL FAQ Flowcharts: Bias-UP // Bias-DN INTRO VIDEOS #1 and #2 1. At 1:20, 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 1:20 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 1:20 would invoke a grace period through 1:30 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 1:30 after invoking the grace period would trigger "noN-bias," with no bias influence.

Brief fresh high only attacked yesterday's. This morning's gap up back to late yesterday's 2790.00 sell signal was retraced back down to its 2786.25 target. Natural support from the gap-fill back to yesterday's close defined the bias environment's lower-end, until the bias environment began lapsing. Like yesterday, a rally leg has inserted itself between bias environments. Surging out of the morning's bias environment peaked at 2794.00, attacking yesterday's high to within 1 tick. The noon hour didn't extend any further, and this afternoon's bias-up signal failed to trigger.

A clean no-bias triggered. The bias environment should be defined by either 2787.00-2793.00 bias signal if tested.

Meanwhile, "unfinished business below" is at this morning's 2782.00 bias-down signal. I'm otherwise a little suspicious about near-term weakness since yesterday's high was only attacked and not pierced. But I'll still take seriously a break lower coming out of the bias environment.

Tuesday's open was greeted by already bouncing off of the 2782.25 overnight low. That didn't leave much for a post-open rally, gapping up to the 2791.00 origin of Monday's late drop. The retracement was likely because of the drop's late timing. The morning only consolidated back down to unchanged at 2786.00. A brief surge to 2794.00 peaked at noon, within 1 tick of Monday's 2794.25 high. That wasn't too pessimistic to prevent reversing down. The brief surge was doomed anyway, having left "unfinished business below" outstanding from the morning at 2782.00 bias objective. The reversal extended into the final hour, attacking 2782.00 to within 3 ticks and neutralizing it. Turnabout is fair-play At least, it was for the late low, which had stopped optimistically short of touching the overnight low. Like noon's peak, which was 1 tick short of touching Monday's high before reversing down, the late low launched a 9-point rally back to the 2791.00 open. The session ended back in positive territory above Monday's 2786.00 close. No new unfinished business was left outstanding. Meanwhile, Bitcoin is resuming its collapse. Tuesday's extension qualifies as part of the prevailing downleg, since the interim consolidation was kept shallow. A low, let alone a recovery , is premature. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2788.75 2792.50 ...would target 2794.25 2798.00 Bias-down: under 2781.00 2784.75 ...would target 2773.75 2777.50 Signal status: BIAS-UP FAQ Flowcharts: Bias-UP // Bias-DN INTRO VIDEOS #1 and #2 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.