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(pre-open Market Tour begins at 8:55 ET)

Through the prior close...
Monday''s gap up extended higher to touch the upper-end of its renewed bias-up target at 2095.25-2097.50. Not exceeding it through a relevant timing window prevented putting into play any higher objective. The afternoon ranged choppily back down to 2092.00. A post-close drop extended down to 2089.25.

Overnight action''s new info...
The rally''s resumption was immediate, slowing pessimistically upon attacking Monday''s highs, and then surging through them to a fresh high. That was extended to 2105.25, within 1 tick of last Wednesday''s high. Its reaction retraced 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of the overnight gain back down to 2095.25, consolidating almost three hours back up to 2101.00.

If, then...
Last Wednesday''s late break was considered to be sponsored by weak hands, and it was retraced entirely Thursday. Friday''s much deeper drop was also considered to be weak-handed, and now that has been retraced entirely. Weak-handed sponsorship can produce detours, which by definition are only temporary. New highs remain likely, potentially today, if another detour doesn''t appear. Today, that vulnerability is probably limited to the open holding a test of last week''s highs, if not also falling back under yesterday''s highs

First Trade...
Exiting the open at 9:45 abov 2105.50 would be likely also to renew the bias-up signal by exceeding its 2104.00 bias-up target through 10:15. Exiting the open under 2095.25 would be unlikely to trigger the 2098.25 bias-up signal at 10:15.

Overnight rally fails to resume.

The pre-open recovery from 2095.25 had eked its way back toward the 2105.25 overnight high. But the open only blipped-up to 2103.50 before reversing back down to 2095.50. 

Every minute without recovering from a post-open dip became increasingly vulnerable to extending back down under yesterday''s highs. In fact, the 2098.25 bias-up signal didn''t trigger, and 2091.50 has been touched. Reacting up to 2096.25 is still under yesterday''s highs.

An offsetting test of the 2088.00 bias-down signal is in-play. The 2104.00 bias-up target was attacked to within 2 ticks but not touched, so an offsetting test of the bias-down target is not required.

The no-bias has produced fresh lows since triggering at 10:15. So, the 2088.00 consequence will become "unfinished business below" if not met before the bias environment begins lapsing at 11:30. 

Regardless of the failed attempt at new highs, this morning''s pullback remains unlikely to become a bigger downleg.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2103.50
2096.75
...would target 2108.50
2101.75
Bias-down: under 2094.75
2088.00
...would target 2089.00
2082.25
Signal status: NO-BIAS FAQ 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.

A daily summary of high-profile members of several complexes... View a more detailed discussion of each chart at the end of today''s Market Wrap.

Eurodollar Mar Contract (EC, ETF: (FXE, UUP))
The dip''s potential to 1.0650 was cut slightly short from 1.0667 by bouncing back to Monday''s 1.0790 high. There is still no actionable pattern.

Gold Jun Contract (GC, ETF: (GLD))
Gapping up Tuesday was retraced back down to 1194.50, but that was recovered to fresh session highs attacking 1204.00. There is no bullish reason to further delay recovering 1205.00-1208.50, and the next test of 1194.50 would be bearish.

Silver May Contract (SI, ETF: (SLV))
Tuesday''s opening surge back to 16.10 resistance didn''t extend higher. But its reaction down only filled the gap back to Monday''s close -- neutralizing its attraction below, and avoiding a lower close that would have confirmed Monday''s break. Closing back above 16.10 would reverse the trend up.

30-year Treasury Jun Contract (US, ETF: (TLT))
Gapping down Tuesday and probing under 164-04 once again limited a surge to less than a one-day cycle. The 163-18 sell signal was tested thoroughly intraday. Its break would still require being confirmed by a second consecutive lower close.

Crude Oil Jun Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Hovering narrowly at the highs -- while US and Iranian battleships come dangerously close to each other -- makes the rally very suspect. So would closing under 55.85.

Natural Gas May Contract (NG, ETF: (UNG, UNL))
Gapping up Tuesday to attack 2.60 must still close higher to confirm a new rally leg is underway. The 2.54 support is unlikely to hold a retest.