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... Tuesday night's drop had been retraced somewhat ahead of Wednesday's open. A blip-up to 2746.75 quickly collapsed to probe the overnight low by 3 ticks down to 2736.50. All of which was recovered as the morning's bias environment was entered. Firming steadily into the afternoon's bias environment probed the gap back up to Tuesday's 2750.75 close where Nafta withdrawal headlines triggered another dip to 2744.00. An eventual bounce retraced 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} of the dip into the cash session close, still in negative territory. Overnight action's new info... Initial narrow ranging under Wednesday's late high was suddenly interrupted by a 5-point surge to 2754.50. A 7-point dip retraced it, and then some to test 2748.00. But that was recovered as quickly back up to 2754.50 by midnight, where price has hovered into and out of Europe's opens. Only now is the narrow range breaking, with a probe to fresh highs at 2756.50. If, then... Yesterday's intraday rally had stopped short of recovering positive territory. Twice. And the afternoon dip had exited the bias environment lower, without recovering, either. Extending yesterday's rally without delay all but requires gapping up above relevant levels from Tuesday afternoon, which is currently indicated. Only now is overnight action repeating the aggression it had showed much earlier. That's late enough to still be considered restrained optimism, and not so late to be considered weak-handed. Regardless, it must be maintained through the open to influence intraday action targeting a retets of Tuesday's highs up to 2765.25, as its rejection would still target 2730.75. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2753.50 would be likely to trigger the 2752.00 bias-up signal at 10:15. Exiting the open under 2748.00 would be unlikely to trigger bias-up. Phonetic dictation... good morning welcome it is Thursday but time for Thursday's Morning Market to her and I'm not really able to classify this as a rally overnight and that may be the most bullish thing about it because otherwise having extended hire its optimism is restrained no it's just back out for a moment from this very recent surge this surge that is matching the earlier search Globex initially narrow flat and then surged and suddenly stopped on a similarity they are but which is considerably back to all the way back up to hovering here and then also optimistically for not extending higher above Wednesday's recovery itselfWednesdaystrong headed Breakout not too close to the or not too early to consider the overnight is having already expended all buying pressure just right up to a point still needs to be maintained for the open to extend iron today 12/8various pattern you can really see an inverted Head and Shoulders on a pull back will try and go for me here not bearish in the sense of distributive but didn't really get a lot of momentum going so looking for at least a fresh High not necessarily anything more much more than that quite the opposite is the pound dipping more deeply I don't have a cell signal at work on the pound this is pretty much just noise coming back down to lower eyes having left unfinished business the spike was or at least being absorbed and here is the low is being tested Euro as its .

Attacking new highs. After spending all of yesterday in negative territory, gapping up above relevant levels would be the only immediate path higher today. The least of those relevant levels was this morning's 2752.00 bias-up signal. It was only attacked to within 3 ticks from 2756.50 above by a dip into and out of the open. Maintaining the open's gap kept alive upside momentum. The dip was recovered by almost a 7-point rally to fresh highs at 2759.50. The 2757.50 bias-up target was fulfilled along the way.

Touching the bias-up target during the open added a new dynamic, or adapted an old one. Its recovery through 10:15 became as important as was maintaining the gap up above the bias-up signal. Where the first setup succeeded, the second one failed. It's still a bias-up environment, but whose bias-up target was no longer being exceeded at 10:15.

Near-term resistance at 2759.25 reacted down to violate its pullback limit, extending at least 6 points to 2753.25. But now near-term support at 2753.75 has just held a test, as did 2759.25 above. The pullback may have ended.

Since the initial rally stopped 2 ticks pessimistically short of touching Tuesday's high, probing it is likely -- and likely to be measured in points, not ticks, such as 2765.25. Meanwhile, still being a bias-up environment, a test of the 2752.00 bias-up signal should define the window's lower-end. It can be broken after the bias environment begins lapsing without requiring a recovery.

THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2758.25 2759.25 ...would target  2764.50  2765.25 Bias-down: under  2451.75  2752.50 ...would target  2746.25  2747.25 Signal status: BIAS-UP, BIAS-UP TARGET MET FAQ NEW! Flowcharts: Bias-UP // Bias-DN 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.

New high, but holding its target. The reaction from the open's 2759.50 high had reacted down to 2753.25. Being pessimistically short of actually touching last week's 2560.00 high, its recovery was likely. And its recovery was likely to be measured in points, not ticks.

In fact, the morning's high did touch 2760.00 before the bias environment began lapsing. Its reaction into the noon hour was recovered to probe fresh highs up to 2765.50.

That's also a test of this afternoon's 2765.25 bias-up target. It held through 1:20 to avoid renewing the 2759.25 bias-up signal. But this is still a bias-up environment. If tested, 2759.25 should define the window's lower-end. It can be broken durably later. Nothing requires reversing down. Extending up is possible, but less likely since relevant resistance held through a relevant window. Meanwhile, this afternoon is vulnerable to backing-and-filling, and potentially reversing back down.

Gapping up Thursday above the morning's 2752.00 bias-up signal had rejected Wednesday's inability to recover positive territory. And it also created the consequence of retesting Tuesday's 2760.00 high. There was already an attraction above at 2765.25, which the morning's wide swings all but required being met. Two afternoon timing windows tested and retested it, dipping 3 points in the interim. But it was the position-squaring window that finally broke higher. The cash session closed equated to 2768.50 and futures extended another 6 ticks higher through the close.

Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2769.00 2770.00 ...would target  2776.50  2776.25 Bias-down: under  2763.00 2763.75 ...would target  2756.75  2757.75 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED FAQ NEW! Flowcharts: Bias-UP // Bias-DN 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.