Proper context can start the day with a solid win and make all the difference.

NEW 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... Friday morning's opening dip was a test and retest of Thursday's 2465.50 low. The dip was also a test of the morning's 2463.50 bias-down target. Both held, and were recovered through the noon hour to 2470.00. Reacting down 4 points tried breaking Thursday's low again. But Friday afternoon wasn't going to accomplish something the morning had tried already and failed to do. Recovering through the last half-hour maintained a bullish WedEX influence. Overnight action's new info... The briefest of blips-up at Sunday night's open had soon reversed down, once again testing Thursday's 2465.50 low. That was extended to attack 2363.50. Firming 4 points was reversed at Europe's opens to retest 2363.50. But only temporarily, as the 2467.50 interim high is being recovered now. If, then... Friday afternoon wasn't going to accomplish something that the morning had tried already and failed to do. Another attempt Monday morning shouldn't have much luck, either. If the market is ready to break under 2465.50, then the open should maintain a gap under it, and extend down. Otherwise, holding its support through the open -- or any support -- would help to launch the morning's bullish WedEX influence. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2466.50 would be unlikely to trigger the 2464.50 bias-down signal at 10:15. Exiting the open under 2462.00 would be likely to trigger bias-down. Phonetic dictation... good morning welcome it is Monday it's time for Monday's morning market tour and we have one big influence one other influence that are between them I think not totally on disconnected from each other but between them I think going to dictate this morning of course the big influence and I say big influence meaning and top billing but it's not the most influential it's a very sporadic thing once a month the Wednesday expiration indicator wed x when X is bullish this time around it had a very very minor influence on Friday afternoon if we're not yet assured of calling that and influence but at least coincidentally from the bias environments entry until the clothes price was biased up by the narrowest of definitions not trending up necessarily but biased up as in at least pull backs are recovered in this one was and if by if the wed x is fulfilled in this case bullish wed x is fulfilled even by the narrowest of definitions its influence on Monday morning should be aggressive not just absorbing a pull back but actually trending up in trending up obviously which brings us to the second influence and II influence is actually a more common one it's the same influence in fact that we saw Friday morning that basically told us back here when we updated on Friday afternoon even here we were expecting or at least keeping the door wide open to the bullish when X is influence because sellers were doing something that they weren't likely to get done and that was to break under level on a Friday afternoon that had been tested on a Friday morning and failed the break and that was just the previous low in this case it happened to be the previous day's low 6550 tested pretty thoroughly including dip to what was the mornings bias down signal 6350 or Target and so that having held in the morning if they try something Friday morning and don't get it done the odds are very low very low that's going to succeed with wet sponsorship is left over Friday afternoon pretty high percentage trade how why is that influential this morning well because they're trying it again they tried it again last night 6550 they tried it or after into out of Europe's opens tried it again here 6550 even 6350 now has been touched again that was the relevant level Friday morning then ultimately to find the low some unfinished business below as well but here's what what's up in the middle of the Friday afternoon so we don't have the greatest reliability the influence has nothing to do with the this isn't Friday afternoon anymore it is new sponsorship so if 6550 this morning's bias down signal itself 6450 if these levels don't hold especially 6550 through the open 6450 s by Stalin signal triggers of course the bullish wed x no no bullets goes away and we expect first of all that it that if there is any Bounce It has nothing to do with that but secondly that the bullish wood axe is no longer influential so it's very important that that 6550 hold its test if it's even tested Post open and therefore does a as a similar reaction as with Friday afternoon just as aggressive actually as was the last half hours recovery throughout the morning but if it doesn't and 6550 isn't holding through the open then probably 6450 s going to break lower that is triggered by us down and we won't be looking for a bullish wed x and by the way Friday Friday's test Friday's relevant test that held in the morning that was or I should say failed to break in the morning and so held its retest in the afternoon it's going to break today we're probably going to gap down under at so long as we stay away from gapping down under 6550 probably the bullish wed x prevails otherwise the downside is not limited mean there is 46 we already did test 46 isn't actually Nursery there is at this point 58 59 5750 it's not a little bit of downside but we don't necessarily fall off the edge could silver that's how much firmer overnight and is holding up but the point is it does have 16 70 and playgold as well as higher targets and play and its former overnight as well but closing in on the 12th 5970 Target Long Bond had resumed the rally on queue after a pause on Wednesday not all of it was maintained Thursday but it wasn't reversed or reject it meanwhile be upside potential or objective 155 us-6 remains and play despite the overnight Paws again crude oil firmer here but still triggering a cell signal still trying to maintain the cell signal under 44.94 sorry 4515 would confirm at this point momentum has reversed and the objective being to retest the Lowe's pattern not just lower prioritize at 4345 4355 do have outlined but actually retracement and potentially even a fresh low at this stage as long as the delay has been and finally natural gas which I just didn't think we're going to get out of here without feeling this Gap back to Monday's clothes and potentially the next Gap lower and fact Friday sewing pressure extended even deeper than that so really this would have been an overnight low before before was it last Friday is open that tested 292 became likely to be retested as well and it is being rude tested overnight we can have lower the Buy Signal back to to 9850 that's not that 292 Camp Road I mean there's this gap down doesn't require being filled we just looked at a gap like this in the Aussie only inverted because the Gap was created by gapping up to the upper end of the same range and closing within it or around that ranges extreme remember the Odyssey was the inverse of that the gap down was created by gapping still within the range and closing within the range so that Gap doesn't have to be filled before extending down and so again and natural gas doesn't have to fill this Gap didn't have to fill this gap before extending up will now we returned to its orbit after being productive so now there is potential to fill that Gap this test of 292 isn't already recovering back above 298 fairly short order preferably today okay any questions let me know and I will see you before the open good luck today  .

Open's dip ends on time, but bullish WedEX quite delayed. The bullish WedEX influence remains intact so long as selling is essentially contained to the opening 15 minutes of volatility. The opening 15 minutes of volatility contained nothing but selling. Dropping nearly 5 points from 2469.50 narrowly avoided touching the 2464.50 bias-down signal. It's being touched now, but not in time for it to require an offsetting test of the 2472.00 bias-up signal. The 2464.50 bias-down signal also narrowly avoided being broken at 10:30 to invalidate the 10:15 signal. Breaking 2464.50 this morning would be no-bias trending that requires a recovery, but it the bullish WedEX would be invalidated all the same. Meanwhile, this is the range's lower-end. Recovering to 2472.00 isn't required, but there's that much room And at least 2469.50 should be recovered to comply with the bullish WedEX.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2471.75 2469.25 ...would target  2477.00  2474.50 Bias-down: under  2466.00  2463.50 ...would target 2461.00  2458.50 Signal status: NO-BIAS FAQ 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.

Still hovering at recent lows. Friday afternoon's retest of Thursday's low wasn't going to break lower, not after Friday morning had tried already and failed. That was Friday, and it was due to the "Friday Factors" which are a function of two days of illiquidity bearing down at an exponential pace. Strong-handed sponsorship isn't changing its recently expressed opinion. Now this is Monday. The only Monday Factor (there really are none) is that an entire week of liquidity lies ahead. Even if proved wrong later, it's much easier to generate sponsorship. So, Thursday's low is vulnerable again to breaking.

The vulnerability to breaking under Thursday's low has one exception. It is that this morning's open should have gapped down under it. But it didn't. The vulnerability is equally matched by the vulnerability to rallying. Buyers are not marginalized.

Neither vulnerability may be exploited today. Having failed to exploit Friday's support, the vulnerability for breaking lower would become greater. But the path down would still require gapping open under Thursday's low (and lower). Meanwhile, breaking either end of this afternoon's 2463.50-2459.25 bias signals before the close would be likely to trend in that direction.

It took long enough. No, seriously -- just long enough. Fighting back from an overnight dip to 2463.50 had opened only slightly lower at 2469.00. But the morning only dipped back down to the overnight lows. and only to the overnight lows. Firming through much of the afternoon's bias environment to 2468.00 stopped short of recovering. But firming into the bias environment exit extended higher upon entering the final hour, probing the morning's high up to 2470.50. All of which could have taken less time. But it couldn't have taken any longer and still had time to recover. It took long enough. Had Monday's entire pattern developed during the morning alone, then the bullish WedEX would have been fulfilled. Not optimally, since Friday afternoon had already retraced a dip, which is what Monday's entire session did. Optimal would have been to trend up after the open's dip. Monday morning's thorough tests of support did hold, but the window had closed before recovering, so it did not fulfill the bullish WedEX setup. Nevertheless, a second consecutive pullback has failed to extend down. The delay suggests that upside attractions will now be more influential, first at 2474.50 and then new highs. Extending down anyway should still begin by gapping down, or at least by triggering the morning's bias-down, targeting at least 2458.50. 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  2474.50 2472.00 ...would target  2479.50  2477.00 Bias-down: under  2467.00  2464.50 ...would target 2461.00 2458.50 Signal status: BIAS-UP, BIAS-UP TARGET MET FAQ 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.