Proper context can start the day with a solid win and make all the difference.

NEW 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... Monday's open trended down, and then so did the balance of the morning, essentially ignoring a bullish WedEX. The selling ended upon touching the 2463.50 overnight low as the morning bias environment began lapsing. The balance of the session session rallied back to the 2470.00 overnight high, and through it briefly. Its reaction down ended the cash session at the 2469.00 opening print. Overnight action's new info... Once again taking its cue from overseas, Globex initially ranged narrowly around 2468.00. A last-minute dip greeted Europe's opens at 2466.75 which triggered a 5-point rally to now attack 2473.00. That's 1-2 ticks short of the natural resistance of a retracement of Thursday afternoon's range. If, then... Delaying follow-through to Friday's break lower had made its dip likely to recover, or else required the break to gap down. It's not gapping down. Delaying the recovery of Friday's break lower made its reaction up likely to retest its origin, which would produce a new high. Resistance from Thursday's range up to 2474.50 might interfere, but the burden of proof is on sellers. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2473.50 would be likely to trigger the 2472.00 bias-up signal at 10:15. Exiting the open under 2469.00 would be unlikely to trigger bias-up. Phonetic dictation... good morning welcome it is Tuesday it's time for Tuesday's morning market tour I took long enough but we've got a rally going as has been the case often but recently consistently the game gets going with Europe's opens here's the night before for instance the night before I think for yourself but anyway it is producing the anticipated break higher the brake higher was anticipated because Friday's break lower which didn't gain any traction already if it were going to extend down needed to extend down yesterday and didn't produced instead and inside day and the delay when there's a gap left outstanding in the direction of the trend the delay and extending down from creating that Gap tends to fill that Gap next and as a consequence there's also increased potential to retest just the origin of that break lower that it may not be like seem to be a substantial break lower or I'm going down Trend and that doesn't make it any easier or likelier to be retraced but it's just a simple principle and so the origin of the brake lower which is basically the highs is next in line to be tested as opposed to Breaking lower breaking lower compensating for the delay and extending down extending Friday's break lower down should cat down at this morning but as you can see not that's not really indicated here were probing above the last two sessions highs probing about the last two sessions High's into Friday's range Thursday's ranges back here there's a gap back to 7150 clothes that's natural resistance there are 61 a treatment back into its range back into its afternoon range that is that's 24.73 7325 or within a tick or two of that 61 a treatment resistance there is a new Globex Trend extreme outstanding historically mandated to be retested intraday yet to be were tested at all it's 7625 from before Thursday's open so there's attractions above and play the traction below the pound not extending at the moment yesterday's break higher but it does have attractions above essentially back to a new high the Looney has just continued stretching that rubber band and now that gyro which has left the Gap outstanding Friday's hi it's not a gap that requires being filled because of how was created opening within its own range holding its own range intraday but if it is for tested which any delay and extending down will then require if it is were tested it will be likely to be retested up to Once 11731 1755 gold stop just a little short of its 1259 17 x Tire Target next hour driving about 12:36 and 12:44 yesterday and it's reaction down at the time how old the gapping pressure without damaging pausedback under again back under 4625 would resume the decline route and finally natural gas which is really extended this pull-back that is the maximum pull back at least on a closing basis preferably though at all down to 288 just needs to close web 295 to confirm that it held and that momentum is reversing up but that's it for the pull back for the reaction down to continue to be classified as a full pack substantial is and maybe any questions go see you before they open  .

Gap up retraces, but not reverses. Rallying out of Europe's opens ultimately extended 10-11 points. Post-open enthusiasm did not follow. The 2478.00 opening print added a single tick before reversing back under this morning's 2477.00 bias-up target and Thursday's 2476.25 new Globex trend extreme. The reaction also probed under "lower prior highs" down to 2472.50. It was already a little late for only threatening to reject the 2472.00 bias-up signal, let alone not even touching it. So it triggered. This is a bias-up environment, whose target has been met. Overbought RSIs at the 2478.25 high don't require being retested since they develope3d during the open. But the 2478.00 opening print above all prior highs does require being filled. At least, at some point, not always before a more significant reaction down. Filling the open's 2478.00 gap without exiting the bias environment above the open's high would suggest a top is forming. Meanwhile, back under 2473.75 at any time would start to signal momentum reversing down for a deeper correction.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2481.25 2478.75 ...would target  2486.75  2484.25 Bias-down: under  2473.50  2471.00 ...would target 2468.50 2466.00 Signal status: NO-BIAS, TEST BIAS-UP SIGNAL 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.

Tuesday's gap up to 2478.00 neutralized all unfinished business and attractions above. Just having delayed exploiting Monday's break lower had made fresh highs likely. Previously existing was the 2476.25 new Globex trend extreme that had preceded last Thursday's open. Yet to be an attraction was the morning's 2477.00 bias-up target, whose 2472.00 bias-up signal wouldn't trigger for another 45 minutes. So, it's interesting that the rally didn't do anything to entrench itself. No afternoon bias-up target put into play, no uptrend gaining traction, no breakout close. Extending higher Wednesday depends upon gapping up above Tuesday's highs, or else delaying a rally until late-afternoon. Like, in reaction to the FOMC policy statement, or in reaction to its reaction. The next higher objectives would be 2484.00 and 2490.00. Rolling over late Tuesday was too delayed and too muted to be reliable for extending down. At least, for extending down without delay or without backing-and-filling. Not without gapping down to and/or through Friday/Monday's "lower prior highs" at 2469.00. 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  2481.25 2478.75 ...would target  2486.75  2484.25 Bias-down: under  2471.50  2469.00 ...would target 2466.00  2463.50 Signal status: NO-BIAS FAQ 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.