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) Surging out of Thursday's 3437.50 close had ranged choppily sideways overnight between 3445.00-3460.00. Friday's open duplicated Thursday's narrow ranging to make intraday trending likely. The first hour's 10-point dip from 3460.00 launched a rally up to 3474.00 by noon. The balance of the session ranged choppily sideways, dipping to the earlier 3460.00 highs as support before recovering through the close. A post-close surge probed fresh session highs up to 3479.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's opening gap down to 3464.00 retraced all of Friday's last-minute surge to 3480.00. Ranging sideways eventually started firming to recover Friday's through midnight. Probing higher since then has attacked 3492.00. If, then... (notes to accompany the Tour recording) Currently indicating a gap up, this would create more unfinished business to help attract price back up in case of a downleg trying to form. Meanwhile, breaking Friday's 3480.00 high through a timing window exit would suggest that 3521.00 is in-play -- or higher. Today being a semi-holiday, closing back down tomorrow could negate any such upside signaled today. But gapping down today is clearly not indicated, so Friday's session is not going to form an Island reversal. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3488.00 would be likely also to exceed the 3486.50 bias-up target to renew the bias-up signal. Exiting the open above 3479.00 would be likely at least to trigger the 3475.00 bias-up signal. Exiting the open under 3470.50 would be unlikely to trigger bias-up.

Intraday reinforcements arrive. Pre-open highs had extended up to 3500.00, which reacted down through the open to attacking 3491.00. That suggested Post-open sellers were exploiting the weak-handed intraday environment to at least correct the rally. Nope. The first half-hour did range choppily, but it resolved up aggressively. Trending up since then has extended to 3505.00. And exceeding 3501.50 suggests the 3521.00 attraction is in-play. Exiting the bias window back under 3501.50 would be examined for potential that a correction may begin anyway. And a deeper correction has room down to 3483.00 while still being likely to recover. Meanwhile, simultaneously overbought RSIs at the 3505.00 after the first hour are already helping to confirm the trend is up.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3521.25 signal would target 3535.00. BIAS-DOWN: under 3510.25 signal would target 3500.75. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3530.25 3521.25 ...would target 3544.00 3535.00 Bias-down: under 3519.25 3510.25 ...would target 3509.75 3500.75 Signal status: BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE  

Bias-up target quickly met; prior opening gap filled. Once absorbing the first half-hour's pullback efforts down to 3491.00, the balance of the morning rallied relentlessly to fulfill the 3521.00 target. Reacting down to 3516.00 overlapped a sell signal by 1 point before resuming the rally as aggressively up to 3534.00. Its reaction pierced a sell signal by 2 ticks under 3517.00 before resuming the rally again, and as aggressively again, to touch 3539.00. This afternoon's 3535.00 bias-up target is met. Sep 2's 3536.00 gap up above all prior highs is now filled from below. Overbought RSIs at the new 3539.00 high now creates new unfinished business that requires being retested. Optimism seems extreme -- this was equally true when price was somewhat lower earlier today. Fresh highs neutralizing the overbought RSIs could still reach 3541.50. Today's semi-holiday session remains vulnerable to reversing from the rally that greeted it, if only to correct it down to 3514.00 or 3508.00 or lower.

Trending up Sunday night from Friday's 3469.00 close greeted Monday's open pulling back from 3500.00. But only shallowly, ranging choppily sideways during the first half-hour. Then the rally resumed at a steeper pace. Its 3521.00 objective was met as the morning bias window lapsed. Its next higher objective was attacked to within 5 points at 3541.00 as the afternoon bias window lapsed. The last 60-90 minutes corrected down to 3523.00. Semi-holiday trending is by definition sponsored by weak hands. This doesn't prevent extending the trend, not initially. Four consecutive sessions have gapped up and trended higher intraday. The first reaction down from this relentlessness is likely to be retraced before being credible for ending the rally. Meanwhile, the growing likelihood discussed this weekend for a mid-week trend extreme would suggest peaking between Tuesday afternoon - Thursday morning. So, altogether interesting that the quarterly earnings onslaught -- which begins Tuesday -- is being greeted by such extended trending, satisfying higher attractions. 3521.00 was likely to be tested, and testing it was likely also to fill Sep 2's 3536.00 outstanding gap up. RSIs were on the cusp of being overbought at session highs, making its retest likely. And its retest is likely to test 3546.00. Higher highs could test 3557.00-3558.00. A deeper pullback first has room down to 3508.00-3511.00 before suggesting a deeper correction, or already reversing the trend down. 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 3535.00 signal would target 3546.25. BIAS-DOWN: under 3521.00 signal would target 3510.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3544.00 3535.00 ...would target 3555.00 3546.00 Bias-down: under 3530.00 3521.00 ...would target 3519.00 3510.00 Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET . BIAS VIDEOS... INTRO // EXAMPLE