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... Thursday night had gradually, relentlessly, retraced almost all of the intraday recovery from its 2685.50 morning lows up to 2705.50. Friday's opening blip-up was reversed back down immediately to probe fresh lows down to 2681.00. That was the decline's next lower target, and it was the third post-open probe of fresh lows. Like the two prior, it reacted up sharply, too. Perhaps because it was met as the bias environment began lapsing, its reaction was more productive and durable. At the afternoon bias environment's entry I noted that the last dip had trapped sellers. Although sellers were not marginalized, back above 2695.00 got a benefit of the doubt for extending higher, and the balance of the session rallied back up to 2702.00 before the final hour. Narrow ranging broke sharply higher during Friday's last 5 minutes up to 2708.00-2709.00. Overnight action's new info... Friday's last-minute 10-point surge hardly seemed organic, but it hasn't been rejected. Sunday night's open tried extending it by blipping-up to 2712.50. Its reaction settled down to 2700.50 and finally resolved up at Europe's opens. Another surge up to 2721.50 is now reacting back down to 2712.00. If, then... (notes to accompany the Tour recording) Friday's close AT 2708.00-2709.00 resistance doesn't itself equate to recovering it. Even if the overnight extension had not stopped short of "higher prior lows" at 2722.00 it wouldn't qualify as testing it. The recovery attempt won't be entirely reliable for extending higher, but it would be credible so long as this morning's bias-up is triggered, and no timing window is exited back under a relevant level. Currently, the overnight high's reaction down is testing Thursday's 2712.00 opening print as support, which should hold if the rally's momentum remains intact, targeting a probe above last week's 2737.50 highs. Back under Thursday's 2705.50 open-close overlap would help to indicate the rally had failed.. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2713.50 would be likely to trigger the 2711.00 bias-up signal at 10:15. Exiting the open under 2708.00 would be unlikely to trigger bias-up.

Overnight rally not attracting reinforcements. Two overnight probes above this morning's 2719.00 bias-up target had reacted down to attack and then test the 2711.00 bias-up signal. The grace period was invoked to give it one more chance at triggering, but fresh lows down to 2706.00 failed to trigger it. Late no-bias has put into play an offsetting test of the 2704.50 bias-down signal. Fresh lows through 10:15-10:30 reinforce the late signal, although the dip hasn't yet extended lower since then. Back above 2712.00 would start to signal that reinforcements are being overwhelmed by a detour to fresh post-higher, perhaps up to 2719.00. Meanwhile, 2708.00-2709.00 is trying to hold as support, or as a magnetic attraction. In either case, breaking lower to 2704.50 is still challenging 2708.00-2709.00.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2714.75 2713.75 ...would target 2720.75 2719.75 Bias-down: under 2703.75 2702.75 ...would target 2696.50 2695.50 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE 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.

Late-Friday and Sunday surges yet to repeat. The 2714.50 open was already backing off from attacking the 2721.50 overnight high. Post-open action channeled down to 2703.75, holding a test of this morning's 2704.50 bias-down signal. No unfinished business below left outstanding. The relevant 2708.00-2709.00 area that had held Friday's late surge was probed as support repeatedly this morning. But every leg only overlapped the area, never breaking lower. Sellers haven't gained traction, but buyers fail to exploit it. The noon hour's bounce up to  2712.00 held. Its reaction is retesting the 2708.00-2709.00 area's lower-end. This a no-bias environment. Neither of this afternoon's 2702.75-2713.75 bias signals was touched. If touched, either bias signal's test should define that end of the range. Until the bias environment begins lapsing. Then, nothing would prevent a trending attempt from extending in that direction.

Sunday night's 21-point range wasn't extremely wide, but volatility made the most of its range. The open's blip-up to 2712.75 had reversed down 12 points to 2700.50. And Europe's opens had launched a 17-point surge up to 2721.50. Ranging choppily into Monday's 2714.50 open was retraced back under 2712.00 resistance during the opening 15 minutes of volatility. The morning and afternoon held tests of 2705.50 as support. That 2705.50-2712.00 range defined the room for noise around 2708.00-2709.00, which also defined the balance of the session. Breaking higher in time could have formed a compelling hold-long setup, which was attempted, in time, but not maintained through the close. The pattern remains vulnerable to resolve in either direction. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2716.00 2715.00 ...would target 2721.50 2720.50 Bias-down: under 2704.00 2703.00 ...would target 2698.50 2697.50 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE 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.