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 relentless overnight trending up to 3337.50 didn't trend up through Monday's open. But the open didn't fully form a downtrend while dipping to 3222.00, keeping the door open to higher highs intraday. Higher objectives tested up to 3343.00 and 3350.50 which the balance of the session hovered around through the close. Overnight action's new info... (nearby chart is last intraday session and Globex) Yesterday's late reaction down from 3350.50 had recovered into the futures close. It extended optimistically to higher highs overnight up to 3363.00. But already trending back down into Europe's opens extended even deeper down to 3332.00, which is now bouncing back up to the 3346.75 earlier Globex low. If, then... (notes to accompany the Tour recording) Probing higher already overnight is premature for rewarding yesterday's potentially bullish Gap-and-go setup. But it does carve out room for being retested intraday. The reaction down that's now consolidating may be recovered before the open, which would suggest retesting the overnight highs this morning. Otherwise, not entirely recovering pre-open would threaten to form a bearish Globex-flip setup. It is triggered by exiting the open under the 3346.75 earlier Globex low, now being tested. Trending down today would fulfill the Gap-and-go setup's pullback day, and still have potential for recovering tomorrow. The weak-handed rally from last week's low doesn't conflict with the bullish Gap-and-go, but fulfilling the bullish Gap-and-go would delay reversing the weak-handed rally until Thursday or Friday. Meanwhile, a second consecutive higher close today would undermine the rally's reversal before next week. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open under 3343.00 would be unlikely to trigger the 3350.50 bias-up signal. Exiting the open above 3355.00 would be likely to trigger bias-up. Exiting the open above 3341.00 would be unlikely to trigger the 3333.00 bias-down signal.

Late bearish behavior. Spending the first hour contained exclusively within yesterday's last half-hour's range also avoided touching either bias signal. Triggering no-bias didn't put into play an offsetting test of the opposite bias signal. A bearish Globex-flip did trigger by exiting the opening 15 minutes under the 3347.00 earlier Globex low, rejecting the overnight probe above yesterday's highs. This suggests the morning ultimately will have trended down. And the first hour's low is now being probed down to 3327.00. Probing under the 3333.00 bias-down signal is no-bias trending that requires being retraced, potentially also to the 3346.00 10:15 print. Meanwhile, the bearish Globex-flip and today's gap-and-go Pullback day seem in control, at least for this morning.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3331.00 signal would target 3339.25. BIAS-DOWN: under 3316.50 signal would target 3308.00. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3341.50 3331.00 ...would target 3349.75 3339.25 Bias-down: under 3326.75 3316.50 ...would target 3318.25 3308.00 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE

Pullback day ongoing. This morning's bearish Globex-flip setup was slow to produce downtrending. A retest of last night's 3347.00 earlier Globex low stretched the rubber band enough to snap back down. Trending persisted through the bias environment to fulfill the setup. A fresh low coming out of the noon hour only touched this afternoon's 3316.50 bias-down signal, triggering no-bias. Several elements suggested its test would reverse up: Retesting the noon hour low, its knee-jerk headline reaction likely at least to correct, room back up to the 3331.00 bias-up signal. The reaction is probing above the bias-up signal to 3336.50. This is no-bias-trending that requires retracing at least 3331.00, if not also the 3322.50 1:20 print. And today remains a Pullback day from yesterday's Gap-and-go setup, which undermines the potential for an afternoon rally.

The likely response to Monday's Gap-and-pause setup (previously called gap-and-go) was a pullback day, which Tuesday fulfilled. Not before probing Monday's 3350.50 high up to 3363.00 overnight, but then trending back down through the noon hour exit to 3316.50. Tuesday morning's slide was also influenced by the open's bearish Gap-and-go setup (still called gap-and-go) that would lapse with the bias environment exit. The afternoon bias environment's bounce up to 3339.50 was consolidated through the close. It's not unusual for the pullback day to persist through the next morning. That wouldn't necessarily mean trending down Wednesday morning, just delaying the recovery and probe above Monday's highs. All of which assumes the Gap-and-pause setup isn't invalidated by a more bearish development. This possibility wouldn't be considered if not for Monday's sponsorship being weak-handed. Assuming that Monday's high is probed, its test would be vulnerable to double-topping and reversing down. There's a lot of room for volatility -- especially following a 46-point wide session -- but no assurance of trending as the econ calendar gets very active into Friday's Employment Situation report. Econ reports, Fed speakers, and the new limited run mini-series competing with Dancing With The Stars. 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 3341.00 signal would target 3353.50. BIAS-DOWN: under 3320.75 signal would target 3308.00. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3351.50 3341.00 ...would target 3364.00 3353.50 Bias-down: under 3331.00 3320.75 ...would target 3318.25 3308.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE