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) Trending up Sunday night from Friday's 3469.00 close greeted Monday's open pulling back from 3500.00. But only shallowly, ranging choppily sideways during the first half-hour. Then the rally resumed at a steeper pace. Its 3521.00 objective was met as the morning bias window lapsed. Its next higher objective was attacked to within 5 points at 3541.00 as the afternoon bias window lapsed -- filling the gap to Sep 2's highest open above all prior highs. Essentially overbought RSIs were left behind as the last 60-90 minutes corrected down to 3523.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Bouncing through Monday's close quickly pierced the 3535.00 bias-up signal by 3 ticks. Immediately reversing down ultimately touched the 3510.00 bias-down target coming out of Europe's opens. Rallying sharply returned to unchanged, which is now trying to hold as support. If, then... (notes to accompany the Tour recording) Every intraday sell signal yesterday shared the same 3508.00-3511.00 corrective objective, specifically 3510.00. Finally touching it at the overnight low doesn't have the same impact on refueling as would an intraday correction. Usually this timing either limits the recovery's degree and duration, or its corrective dip is repeated intraday. Trending up this morning is unlikely without gapping up since yesterday's rally gained no traction. Exiting the open above the 3535.75 earlier Globex high would be likely at least to retest yesterday's high, presumably up to 3546.00. But almost any less strength would be likelier at least to back-and-fill this morning, if not trend down more substantially. Higher highs could temporarily test 3557.00-3558.00 in a knee-jerk reaction to an artificial catalyst like a stimulus headline. Keep in mind the potential for peak optimism today-tomorrow. Price has neutralized significant attractions, while extending during semi-holiday trending -- making it more difficult for positive surprises from the quarterly earnings onslaught that begins today. AAPL's product release and AMZN's Prime Day could suck any remaining enthusiasm out of the environment. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open under 3517.75 would be likely to trigger the 3521.00 bias-down signal. Exiting the open above 3528.00 would be unlikely to trigger bias-down. Exiting the open under 3531.00 would be unlikely to trigger the 3535.00 bias-up signal.

Still being tested. The overnight recovery got to 3532.00 which is essentially yesterday's futures close. Reversing back down pre-open under the 3525.00 cash session close greeted the open at this morning's 3521.00 bias-down signal. And continued deteriorating from there. The overnight low's retest at this morning's 3510.00 bias-down target included the entire 3508.00-3511.00 range as expected. Its influence launched a 10-point bounce to 3517.50 that has largely failed. The 3510.00 bias-down target's retest could hold and define this morning's low. Otherwise, extending through it would next target 3501.50, and potentially also 3482.00. Further downside can be avoided by at least a knee-jerk reaction to any favorable headlines. Such candidates include stimulus developments and excitement created by AAPL's product unveiling. Rallying organically without an artificial catalyst would be credible for extending higher through the afternoon.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3522.75 signal would target 3531.00. BIAS-DOWN: under 3507.25 signal would target 3595.50. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3531.75 3522.75 ...would target 3540.00 3531.00 Bias-down: under 3516.00 3507.25 ...would target 3504.50 3495.50 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE

Still hovering at the lows. The pre-open slide from 3532.00 had extended to the bias environment's 3506.50 low. Repeated probes under the 3508.00-3511.00 range's lower-end also repeatedly reacted back up. Those reactions have been shallower and shallower, while the morning's low has held. Actually, a knee-jerk headline reaction blipped-down to fresh lows at 3503.50, popped back up to attack 3517.00, where another headline triggered its reaction back down to morning lows. That's a lot of selling pressure and failed attempts to break lower only to hold through a relevant timing window. Selling hasn't been rejected, but not for lack of trying. Lower lows during this window would be no-bias trending that requires being recovered, and probably also reversed up more substantially. Trending down out of the bias window would be credible for extending down.  And rallying out of this window would be likely to trend up into the close, still targeting a probe above yesterday's highs.

Not gapping up Tuesday prevented the morning from trending up since Monday's rally had not gained traction for its effort. The likely 3510.00 pullback target held through the morning before the afternoon bias environment probed it down to 3491.50. Its reaction attacked the afternoon's 3517.00 high before correcting 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} back down to 3500.00 through the last half-hour. Support at Monday's first half-hour lows around 3493.50 were a last line of defense against extending down to 3482.00. Tuesday's late bounce stopped short of trapping sellers, so another break lower probably won't have any defense before testing 3482.00. Meanwhile, Tuesday's closing action trended down, so gapping up above the afternoon's 3517.00 high could form a session-long rally setup. Regardless, the likely objective of any upleg would be to retest Monday's 3541.00 high up to 3546.00. Potential for a mid-week trend change back down remains alive. Monday's high was specifically precluded from being a candidate to launch a downleg, since the relentless trending that produced it just doesn't end that way. Its retest Wednesday would be optimal, but not yet reversing down by noon Thursday would instead suggest extending the rally into the weekend. 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].

WED A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3512.00 signal would target 3524.25. BIAS-DOWN: under 3493.50 signal would target 3482.00. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3521.00 3512.00 ...would target 3533.25 3524.25 Bias-down: under 3502.50 3493.50 ...would target 3491.00 3482.00 Signal status: LATE NO-BIAS, TESTED BIAS-UP SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE