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... I had described Wednesday's choppy range bound session as if a wildcat were trapped in a sack, fighting to get out -- look out, when it does. It got out Thursday, trending down sharply overnight, and then extending down sharply intraday. Its timing was unusual since breakouts usually develop by Wednesday afternoon ahead of a 3-day weekend. Relentless overnight trending doesn't often attract post-open sponsorship, either. Two-week old 2802.00 lows were attacked down to 2805.75, satisfying the afternoon's bias-down target. Sellers weren't gaining traction despite probing fresh lows. The proxy window exploited that by launching an 18-point surge into the position-squaring window. A last-minute pullback touched the lower-end of the critical 2813.00-2817.00 range, which was recovered back up to 2824.00 through the close. [NOTE: The wide-ranging session offered many great opportunities to see the If-Then methodology's many insights and influences. This video catches several key intraday developments in real-time.] Overnight action's new info... Leaving yesterday's drop behind? The late surge's recovery to 2824.00 soon extended into the Globex open. Trending relentlessly higher had retraced Thursday's 2832.00 opening print and greeted Europe's opens testing and retesting 2833.50, since then extending further above yesterday's range to 2838.50. If, then... (notes to accompany the Tour recording) Will today's overnight relentless trending setup also attract post-open sponsorship? Yesterday overcame the reasons why that is normally unlikely. With one exception, it's the same reasons today. The exception is that trending up could still be within the range, and not trying to break above resistance. One range of resistance matters most-- it is Monday's 2832.50 "higher prior lows" back up to its 2841.00-2844.00 close, singularly represented by 2838.75 -- which is being tested now. Meanwhile, the bearish template would not attract post-open reinforcements to the overnight relentless trending, and likely collapse soon after the open if not already. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2838.75 would be likely also to exceed the 2835.75 bias-up target at 10:15 to renew the bias-up signal, next targeting 2849.25. Exiting the open at 9:45 above 2830.50 would be likely at least to trigger the 2828.50 bias-up signal at 10:15.

Target probed briefly to its next higher resistance, but met and held. The overnight rally ran into 2838.75 resistance I had described during the Market Tour. Eventually dipping to 2830.75 found buyers for rallying through the open. Their reward was to test the next higher resistance the Market Tour had also identified at 2841.75. More resistance. Actually, more significant resistance. The bearish setup I had described was trying to develop: Testing one resistance and reversing back under the prior resistance through the opening 15 minutes of volatility at 9:45. Trying to develop, but didn't entirely. The reaction down from 2841.75 was still overlapping the 2838.75 prior resistance at 9:45. But 2838.75 wasn't recovered, and a sell signal was triggered. Its minimum objective at 2830.50 was just probed by 1 point. Meanwhile, bias-up triggered. The bias-up target wasn't exceeded at 10:15 to renew the bias-up signal (there's no grace period for that). If tested the 2828.00 bias-up signal should define the window's lower-end. Friday morning bias signals tend to persist through the noon hour, but that rule becomes fungible ahead of 3-day weekends. Filling the gap back down to yesterday's 2823.00 close wouldn't be surprising.

FRI afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2828.00 2828.75 ...would target 2833.50 2834.25 Bias-down: under 2820.75 2821.50 ...would target 2814.25 2815.00 Signal status: BIAS-UP, BIAS-UP TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE 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.

REMINDER: I'm away from the screens starting now. There's no Market Wrap or Saturday Review. The chaRTroom will re-open Sunday night. Please enjoy a safe holiday weekend! Despite being the Friday before a 3-day weekend, today's session already has been wide-ranging and very rewarding. The open's failure to maintain its test of 2841.75 resistance also failed to exceed the 2838.75 bias-up signal. I had noted that its reaction down wouldn't have been surprising to fill the gap back down to yesterday's 2823.00 close -- it was probed down to 2820.75.

But that was during a bias-up environment, which otherwise requires that its 2828.50 bias-up signal define the window's low. Alternatively, probing under it must be retraced, often also to the 10:15 print which was 2833.50. And both were tested through the noon hour.

Also tested, coming out of the noon hour, was this afternoon's 2834.25 bias-up target by 3 ticks. Exceeding it through 1:20 would have renewed the bias-up signal, next targeting a retest of 2841.75. Similar to this morning's bias setup, the bias-up target held. So, it's still a bias-up environment, and if test, its 2828.75 bias-up signal should define the window's lower-end. Somehow extending higher could still retest this morning's high. Also similar to this morning, probing under the 2828.75 bias-up signal could extend. Its retracement might be required, but Friday afternoons often march to their own drummer. Evaporating volume makes trending difficult, and also makes reaction likelier to artificial catalysts like headlines. Many participants have left already, because it's a difficult trading environment, because many participants have left already, because it's a difficult trading environment, because many participants have left already, because it's a difficult trading environment, etc.