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) Wednesday's open was greeted back above earlier Globex highs and in positive territory attacking 3691.00, after probing Tuesday's low down to 3651.00. Triggering a bullish Globex-flip and trending up through the first 15 minutes entrenched the upside momentum for the morning. Afternoon highs attacked 3702.00 before negative headlines pressured price back down and eventually capitulate to 3674.50.. Overnight action's new info... (nearby chart is last intraday session and Globex) Yesterday's late collapse has been traced to its origin around 3695.00. The narrow range barely measures in the double-digits, and every leg has tightly overlapped the 3689.00 bias-up signal, but still qualifies as relentless overnight trending. If, then... (notes to accompany the Tour recording) Yesterday afternoon's knee-jerk headline reaction is now retraced entirely. The earlier backing-and-filling has yet to be recovered. Reactions in either direction can still be exacerbated by holiday illiquidity, albeit brief or shallow or both. More so today for its early close and impending 3-day closure. Trending through the open would be likely to extend in that direction, but without any assurance of reaching any relevant level. Be careful not to make a trade where there is none. Today's price action is less reliable for being influenced by, or predictive of, the bigger picture. Bias Parameters... (linked here)

REMINDER: EARLY CLOSE, SO MARKET WRAP IS AT 1:00 ET. The overnight bounce up to 3694.50 was retraced pre-open down to 3685.00. Rallying post-open recovered 3688.00-3689.00 through the first 15 minutes to all but marginalize sellers. A dip was recovered to trigger late bias-up above 3689.00. Fresh post-10:30 highs up to 3692.50 help to confirm the 3700.25 bias-up target is in-play. Its test would likely also retrace yesterday afternoon's attack on 3702.00. That didn't prevent a downdraft attacking 3687.00. Any lower would trigger a sell signal, targeting the gap-to-gap's 3683.50 area. But the burden of proof is meanwhile on sellers -- downdrafting during the bias-up environment suggests the dip is only temporary, like the post-open dip that also recovered.

Whether or not celebrating, have a very Merry and relaxing Christmas Eve, Day, and weekend. Typically light pre-holiday volume limited Thursday's range, both overnight from 3678.50-3694.50, and intraday from 3680.00-3696.00. Only one set of bias parameters applied to the holiday-shortened session, and it triggered late bias-up. Its 3700.25 bias-up target became unfinished business despite a dive into the noon hour being recovered to fresh session highs. Holiday-shortened participation and liquidity not only impedes a session's predictability, but also its predictive value. Levels are always reliably influential. Thursday's session was otherwise a non-event, with a retest of recent highs and higher still likely. 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. No Saturday Review this weekend... chaRTroom will re-open Sunday evening with Globex.

MON A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3701.00 signal would target 3711.00. BIAS-DOWN: under 3680.25 signal would target 3670.50. NO-BIAS: between both signals. MON morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3711.00 3701.00 ...would target 3721.00 3711.00 Bias-down: under 3690.00 3680.25 ...would target 3671.25 3670.50 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE