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) Friday's last-minute pre-open highs up to 3363.00 were only a head-fake, and its reversal slid sharply through expiration's open to attack 3332.00. The bias environment eventually fell further to attack Thursday's lows around 3320.00. And the noon hour's collapse fulfilled the retest of the prior Tuesday night's 3286.50 low down to 3280.75, leaving oversold RSIs behind. Rallying into Friday's last half-hour fulfilled 3318.00 bounce potential to within 3 ticks. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open blipped-down to 3296.00 but soon recovered into positive territory testing 3326.00. The price action perfectly tracked the Chiefs comeback from its losing first half to sudden death win. I hope the metaphor ends there, because the trend soon reversed down relentlessly. Europe's opens were greeted back at earlier lows, which broke sharply down to attack 3247.00. Its consolidation has bounced up to 3270.00. If, then... (notes to accompany the Tour recording) Trend extremes aren't usually associated with expiration, so resuming Friday morning's decline was likely. Similar to Friday morning, a 5-Stage pattern may be forming overnight. The break under Friday's low formed a Running Correction that was entered and exited aggressively to form the setup's first 3 stages. Stage-4's is forming a trough. Stage-5's bounce would target Friday's higher prior low around 3281.00, either to reverse back down like Friday's outcome, or to extend back up. It's also possible that Stage-5 not only avoids the bounce, but resumes the decline to greet Monday's open sharply lower. All of which is displayed and described in detail in this morning's Market Tour recording. The next lower objective is a test of 3233.00, and a somewhat bearish WedEX keeps the door open to trending down this morning, too. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open under 3277.00 would be likely also to exceed the 3283.00 bias-down target to renew the bias-down signal.

Testing next lower targets. The last stage of the 5-Stage pattern I described during the Market Tour didn't retrace its Running Correction above. Occasionally its 4th stage trough/consolidation simply resumes the original trending. Attacking the trough's lows before the open left too little time for a bounce. Actually, the pattern could have bounced, albeit barely. And a post-open bounce did get to 3266.00 resistance. But reverse-engineering that the decline's next target was still lower at 3233.00, bounces were likely to fail. And now 3218.00 is being tested, next targeting 3208.00. I assume the bearish WedEX is being influential, which should then preclude a recovery before the bias environment starts lapsing at 11:30. Bottoming before then is possible, and this afternoon would be vulnerable to rallying.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above PRICE signal would target PRICE. BIAS-DOWN: under PRICE signal would target PRICE. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3253.50 3243.00 ...would target 3264.50 3254.00 Bias-down: under 3237.75 3227.25 ...would target 3225.75 3215.25 Signal status: noN-BIAS, BOTH BIAS SIGNALS TESTED . BIAS VIDEOS... INTRO // EXAMPLE

Flat-to-higher ranging. This morning's 3218.00 low stopped 10 points short of the next lower potential at 3208.00. Ranging choppily through noon back up to 3239.00. Has tried resolving up, testing 3248.00. But not in a direct path. Still testing this afternoon's 3243.00 bias-up signal at 1:20 and 1:30 triggered noN-bias. No requirement to extend up to the bias-up target, and no requirement to hold the bias-up signal as resistance. Flat-to-higher ranging off of this morning's lows had become likely into the afternoon. Extending above 3248.00 could retrace the 3277.00-3288.75 gap-to-gap. But trending down through the bias window exit could resume the decline, next targeting 3208.00.

Trending down sharply Sunday night down to 3247.00 was consolidated into the 3258.00 open. Trending down sharply again past the first hour down to 3218.00 remained under the bearish WedEX's influence through the noon hour. The afternoon bias window's dip back down to 3222.00 only stretched the rubber band to surge through the final hour up to 3276.50. The last hour's 57-point rally gained no traction for its effort, doing nothing relevant at the bias environment exit or final hour entry. The late rally's high peaked at the 3277.00 38.2{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} gap-to-gap proxy, essentially filling the gap back up to Friday's 3308.00 cash session close. That's a lot of buying pressure to expend without gaining traction or putting into play a higher attraction. Oversold RSIs at the morning's low require its eventual retest. Correcting Monday's late rally back down to 3243.00 overnight could still greet Tuesday's open already rallying. Any less strength by then would start to validate Monday's range, instead of rejecting it. And that would make the decline likelier to resume, more so since trend turning points aren't usually associated with expirations. 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].

TUE A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3277.75 signal would target 3288.75. BIAS-DOWN: under 3260.25 signal would target 3243.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3288.25 3277.75 ...would target 3299.25 3288.75 Bias-down: under 3270.75 3260.25 ...would target 3253.50 3243.00 Signal status: BIAS-UP, BIAS-UP TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE