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... (summary of last Market Wrap) Spiking up 18 points at Sunday night's open eventually rallied 38 points overnight to 2928.50, gapping up 30-33 points Monday. Initially retracing 10 points down to 2915.50. was recovered back to the pre-open high during the noon hour. Probing higher to 2932.25 was brief, but its reaction down to 2922.00-2923.00 didn't qualify as rejecting the afternoon's higher high, let alone as reversing the trend back down. Overnight action's new info... (nearby chart is last session and Globex) The late intraday slide extended without hesitation another 6-7 points into Monday night's Globex until touching 2916.00. All of which was recovered well before midnight. Monday's 2932.25 high was recovered, too. Its reaction greeted Europe's opens at 2924.00 and recovery attempts since then have failed -- each time briefly probing a little deeper into negative territory, just now touching 2920.75. If, then... (notes to accompany the Tour recording) Ultimately until Monday's final minutes, the 2925.25-2933.00 range above was not rejected. This range is where previous rally efforts had gone to die, resulting in steep, deep reactions down. Now yesterday's late reaction down has been recovered entirely into the range. None of which ensures resolving differently this time and extending higher, but it is a good step-1. A good step-2 relies largely upon extending higher without delay, i.e. gapping up, but that's not currently indicated. Having already retraced overnight to (within 3 ticks of) yesterday morning's low, slipping back into negative territory post-open would target 2911.00 or 2903.00 or once again launch a steep, deep reaction down. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 above 2930.75 would be likely to trigger the 2928.25 bias-up signal at 10:15. Exiting the open under 2925.25 would be unlikely to trigger bias-up. Exiting the open above 2921.50 would be unlikely to trigger the 2918.00 bias-down signal.

In the absence of up, down. Resuming yesterday morning's rally today required essentially gapping up, or at least trending up through the open. Certainly not opening in negative territory.

But despite recovering negative territory overnight at 2916.00 to retest yesterday's 2933.25 high, the open was greeted 3-4 points under yesterday's 2923.00-2924.00 close.

Post-open action immediately extended down, and at a steeper slope. The overnight low had likely served already to retest yesterday's 2915.50 low, so the next lower objectives at 2911.00 or 2903.00 were likely to be tested. The latter was attacked only to within 5 ticks at 2904.25. A bounce avoided renewing the bias-down signal under the 2911.00 bias-down target at 10:15. But this is still a bias-down environment, so a bigger bounce will be inhibited from extending above 2918.00. Meanwhile back under 2908.00 would start to signal fresh lows at 2903.00 underway. Anything lower should hold 2896.00-2898.00 to maintain that this morning's dip is only a temporary pullback.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2921.00 2921.50 ...would target 2927.50 2928.00 Bias-down: under 2911.50 2912.00 ...would target 2904.50 2905.00 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.

A late break is producing no-bias trending. This morning's bounce from 2904.25 got to 2924.50, natural resistance for being essentially unchanged from yesterday's close. Its reaction down has tested and retested 2915.00. 2915.00's third test is breaking lower, and quickly probing this afternoon's 2912.00 bias-down signal by 3 points. No-bias already triggered, so this is no-bias trending that will require being retraced to at least 2912.00, and possibly to the 2916.50 1:20 print. Any higher could reverse momentum back up to produce a rally into the close. Meanwhile, a fresh low would still target 2903.00.

Tuesday's open only had to gap or just trend higher above resistance through the 15 minutes, and it likely would have resumed Monday's rally. Monday morning's 2915.50 low held an attack overnight, and recovered back up to Monday's 2933.25 high. But Tuesday's open was greeted in decline and in negative territory, casting the session's bearish die. The alternative path higher would use Tuesday to back-and-fill to 2911.00 or 2903.00. The latter was attacked to within 5 ticks three times intraday, then finally probed by a break within 3 minutes of the cash session close. That's too late to be strong-handed sponsorship, other than being in-line with the intraday trend. A test of 2896.00-2898.00 was already likely due to the delay, and it was probed after the cash session close. Testing Friday's 2892.50 "lower prior highs" intraday could produce a bounce. But recovering from a shallower dip would have been likely to retest the 2925.25-2933.00 kill zone, which can now be credited for having held again. Testing 2892.50 overnight and already recovering into Wednesday's open could recover 2925.25-2933.00 more easily. But not reacting to a test of 2892.50 would make further recovery unlikely. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2908.00 2908.50 ...would target 2914.75 2915.25 Bias-down: under 2898.50 2898.75 ...would target 2892.25 2892.50 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.