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) Thursday night's rally had tested and retested the rally's 3884.00 next major objective by 2 points. Its reaction into the morning bias window tested the bias-up signal down to 3868.50, and recovered in time to trigger. New highs through the noon hour tested 3888.00, and reversing through the balance of the session attacked 3875.00. A post-close bounce ended poetically at 3884.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open spiked up from 3885.50 to a new high at 3895.50, then retraced it almost entirely. Another surge soon probed fresh highs, with complexity that formed a Globex trend extreme up to 3900.50. All of which was retraced again as dipping extended through midnight to attack the 3885.50 earlier Globex low. If, then... (notes to accompany the Tour recording) Regardless of the rally's 3884.00 holding intraday tests Friday, nothing yet signals the a reversal attempt underway. Probing above 3884.00 today could still close above it to try putting into play the rally's next higher objective at 3977.00. Whether or not today, the attempt is all but assured by Friday's new extreme close requiring a higher close. Last night's new Globex trend extreme requiring intraday retest helps. Neither of which must be done today, or filling the open's gap above all prior highs if that forms, too. Gapping up, alone, doesn't ensure extending any higher intraday, and risks its stretched rubber band snapping back down intraday. Retracing the probe above Friday's highs back down to the 3888.00 earlier Globex low could form into a bullish or bearish Globex-flip. Bias Parameters... (linked here)

Fluctuating around overnight highs. Fluctuating around the 3896.00 between 3894.50-3899.00 has probed the bias-up target up to 3902.00. But only to fluctuate around the 3899.00 bias-up target. Holding the bias-up target through 10:15 prevents renewing the bias-up signal. Bias-up still triggered, but no higher higher is necessarily in-play. RSIs have been unable to touch overbought territory, let alone to probe it. Already concerning for lacking that underlying strength, now a reaction's errant ticks have momentarily pierced a sell signal at 3896.25. Back above 3901.75 would be credible for resuming the rally. Meanwhile, another break lower would have room to test the 3889.00 bias-up signal.

MON P.M. BIAS

At 1:20 the P.M. BIAS is NO-BIAS BIAS-UP: above 3899.00 signal would target 3909.25. BIAS-DOWN: under 3884.25 signal would target 3874.75. NO-BIAS: between both signals.

No momentum. Two probes of the 3900.50 overnight high never gained traction or improved RSIs. Reversing down triggered a sell signal that reached its 3887.50 target into the bias window exit. That was the gap-to-gap proxy, and its reaction has bounced back up to 3897.00. But that was before the noon hour was half-over, and price has only ranged sideways since. The bounce could extend up to 3899.50 without suggesting any more substantial upside underway. Back under 3892.00 would target fresh session lows. Neither is required, and there's no momentum to suggest the market is interested in either. Triggering either inflection level while exiting the bias window would be credible for extending in that direction. It's not impossible for the ranging to persist, but some resolution to probing new highs is likelier.

Spiking up Sunday night extended to new highs at 3900.50 before retracing entirely back down to 3886.50. Monday's gap up extended to probe overnight highs but RSIs never showed sponsorship strengthening. The morning's reaction down to 3886.50 ranged sideways until the final hour surged to new highs up to 3911.00 through the close. All unfinished business was neutralized, and none was created. The market has been quick to neutralize unfinished business as quickly as they're created. Sunday night's rally created a Globex trend extreme that fulfilled its required retest Monday morning. Monday's gap above all prior highs was filled from below after a midday dip touched a prior session's range. And Monday's trend extreme close fulfilled the requirement created by Friday's trend extreme close. Monday created no new unfinished business to fill their vacuum. That said, closing above the rally's longstanding 3884.00 target does put into play its next higher target at 3977.00. That's subject to a second consecutive close above 3884.00 Tuesday. It's not a timing tool, so confirmation could rest on its laurels with a correction that refuels the rally. Not confirming Monday's signal wouldn't t necessarily be bearish. Gaps back to closing extremes don't require being filled, although their proxies often are tested. Reversing down immediately Tuesday wouldn't leave any unfinished business above, but anything more substantial than a shallow dip or brief plunge doesn't often originate suddenly from multi-session trending. 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 NO-BIAS, TESTED BIAS-DOWN SIGNAL BIAS-UP: above 3911.75 signal would target 3921.50. BIAS-DOWN: under 3898.25 signal would target 3886.25. NO-BIAS: between both signals.