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) Not gapping up Tuesday meant not trending up Tuesday morning. Tuesday's 3688.00 open was greeted almost unchanged, but already reacting down from the 3695.00 pre-open high. The morning's 3676.00-3689.00 range finally broke lower when the bias environment lapsed, testing its 3666.00 target. Bouncing back into the morning's range eventually produced a shallower dip before the 3678.00 close. Overnight action's new info... (nearby chart is last intraday session and Globex) You snooze, you lose out, apparently. My warning about another headline and its knee-jerk reaction was fulfilled almost immediately, and so was its buying opportunity. Globex's first hour rallied to the 3685.00 bias-up signal, and then Trump skewering the unseemly stimulus bill sent the next hour collapsing 31 points down to 3651.00. Bouncing back through midnight recovered the earlier Globex high through Europe's opens, and briefly probed higher to attack 3691.00. Its reaction is back under the bias-up signal. If, then... (notes to accompany the Tour recording) Last night's pattern is an example of how not already trending down Tuesday morning made durable downtrending unlikely, while thinner volume could exacerbate knee-jerk headline reactions temporarily. Today isn't immune to repeating the pattern. The plethora of 1-2 day surges among a relatively few individual stocks without indexes rallying still reflects extreme optimism that can turn around and attack the broader market. Getting that done in this thin market could still create an interesting long-entry, whether today or tomorrow. Meanwhile, oversold RSIs at yesterday's 3666.00 low is now neutralized. Yesterday's 3693.50 bias-up target was only attacked to within 3 points. Isolation and Globex-flip setups may be forming. Bias Parameters... (linked here)

Globex-flip and Isolation setups operating. The overnight recovery's attack on 3691.00 had reacted down 9 points. Already recovering into the 3688.00 open extended higher to 3695.50. The first 15 minutes did a lot of work, and expects to be rewarded with further upside. It trended up to suggest that gapping up above yesterday's highs will rally this morning. Ending above the 3685.00 earlier Globex high rejected the overnight probe under yesterday's lows to form a bullish Globex-flip that also points higher this morning. The bullish setups replace other upside attractions that were just neutralized. Testing yesterday's remaining unfinished business at 3693.50 was likely also to probe its 3695.00 pre-open highs. The expiration origin of Friday-Monday's drop should also be recovered, perhaps probed on the way to the rally's 3753.00 ongoing target. None of which offsets the evaporating liquidity, and its risk of exacerbating negative knee-jerk reactions to news. Negative reactions would still likely be shallow, brief, or both, but negative reactions remain vulnerable. Gap-to-gap support around 3683.50 would be a first line of defense, but not holding its test could find yesterday's 3678.00 cash session close being tested.

WED P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3698.25 signal would target 3708.00. BIAS-DOWN: under 3688.00 signal would target 3677.00. NO-BIAS: between both signals. WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3708.25 3698.25 ...would target 3718.00 3708.00 Bias-down: under 3697.75 3688.00 ...would target 3686.75 3677.00 Signal status: LATE BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE

Cautiously relentless. This morning's series of higher lows above its 3688.25 open fulfilled the renewed traction signal, and the bullish Globex-flip setup. Its price action formed an Ascending Triangle that anticipated trending up through the noon hour. Triggering this afternoon's bias-up has extended to attack 3702.00. More so, the bullish Isolation setup has triggered. Its influence is more about persistence and retracement. So, it is added confirmation to anticipate retesting last week's 3717.50 and 3723.50 highs. And not returning the morning's Globex-flip gains tends to bullishly influence the next morning, too. None of which prevents reacting down to a negative headline. A downdraft would likely be only brief or shallow or both. But nothing prevents negative reactions if triggered.

Wednesday's open was greeted back above earlier Globex highs and in positive territory attacking 3691.00, after probing Tuesday's low down to 3651.00. Triggering a bullish Globex-flip and trending up through the first 15 minutes entrenched the upside momentum for the morning. Afternoon highs attacked 3702.00 before negative headlines pressured price back down and eventually capitulate to 3674.50. The overnight dip and recovery was Trump threatening to veto current stimulus legislation, and then the market realizing its support was veto-proof. The intraday reversal was Trump vetoing the bill, and then veto support crumbling. The afternoon reaction wasn't early enough or deep enough to have yet rejected the morning's rally. So Wednesday's bullish Globex-flip is likely to influence Thursday morning. The reaction down filled the gap back to Tuesday's 3378.00 close and held it, so sellers gained no traction for their effort. The late drop was likely exacerbated by holiday illiquidity, and by the headline coming so late that it inhibited stronger hands from countering. The market remains vulnerably to exacerbated knee-jerk reactions to headlines. The reactions remain likely to be brief or shallow or both. None of which prevents extending down deeper Thursday. But already recovering 3688.00-3689.00 through the open could marginalize organic selling for the day. Wednesday's bullish Isolation setup makes last week's 3717.50 and 3723.50 highs likely to be recovered. 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 3689.00 signal would target 3700.25. BIAS-DOWN: under 3774.00 signal would target 3664.25. NO-BIAS: between both signals. THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3699.00 3689.00 ...would target 3710.25 3700.25 Bias-down: under 3684.00 3674.00 ...would target 3674.25 3664.25 Signal status: LATE BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE