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) Choppy sideways overnight ranging collapsed down to 3875.00 through Friday's expiration open. The next lower target in-play at 3896.00 was back to being resistance when the bias window began lapsing. Recovering it into the noon hour only ranged narrowly sideways around unchanged up to 3920.50. The final minutes collapsed again back down to 3896.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open immediately extended Friday's late collapse another 11 points to 3886.50, only to establish the overnight range's lower-end. Wide ranging reacted down from the 3900.00 area, and from 3904.50, through midnight and Europe's opens. But each reaction down has also reacted up, now probing fresh highs up to the 3911.00 bias-up signal's resistance. If, then... (notes to accompany the Tour recording) It's not too late for this overnight surge to greet Monday's open back at or above Friday afternoon's highs. Attempting to probe any higher any later wouldn't be reliable for extending, while being vulnerable to reversing back down through the morning. And already retracing this recent surge back into the earlier range would threaten to trigger bias-down. Bias Parameters... (linked here)

Overlapping Friday afternoon's range. Gapping up to the 3906.00 lower-end of Friday afternoon's range has extended to its 3919.50 upper-end. The 3911.00 bias-up signal was triggered, putting into play its 3923.75 bias-up target. An ascending triangle has formed that measures a break higher to the bias-up target. A fresh high just attacked 3922.00, while RSIs diverge negatively. It's too late for a break lower to invalidate bias-up by 10:30, so any break lower would require being retraced. Back under 3913.75 would start to signal a break lower is underway. Any probe under 3911.00 during the bias-up window would require retrace, but meanwhile a retest of the 3900.50 proxy gap could be in-play.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP BIAS-UP: above 3932.25 signal would target 3939.25. BIAS-DOWN: under 3921.75 signal would target 3911.00. NO-BIAS: between both signals.

Still, sellers are not marginalized. This morning's probe above Friday afternoon's highs has extended through the noon hour to trigger this afternoon's 3932.25 bias-up signal. Its 3939.25 bias-up target is in-play. Having originated today's rally from under Friday afternoon's resistance, aggressive buying is likelier to extend. So, already exceeding the bias-up target to renew the bias-up signal would have been more reliable for extending higher this afternoon. But we'll still label buyers as aggressive for trending up throughout the noon hour. Still, the pattern can't tolerate much of a pullback, or for too long. Even if probing beyond above today's current 3936.00 highs, today's session is disqualified from signaling the pullback is done. We can give it a benefit of the doubt, and avoiding an afternoon reversal would be likelier to extend higher tomorrow, but a pre-close dip can't yet be discounted.

Monday's 3904.00 gap up was delayed beyond the first 15 minutes from recovering Friday afternoon's 3918.00-3919.50 highs. This didn't prevent extending higher relentlessly to 3944.50 into the final hour. It also didn't marginalize sellers, or prevent the final hour's collapse back down to 3928.00. Oversold RSIs at the 3928.00 low became unfinished business that requires intraday retest. Also, bullish PM traction triggered, which expects to trend up through the bias window.. Closing well into positive territory doesn't make the rally any likelier to extend, especially if a gap down Tuesday helps to absorb the morning's rally before it can probe prior high. 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].

TUE A.M. BIAS

At 10:15 the A.M. BIAS is NO-BIAS, TESTED BIAS-DOWN SIGNAL BIAS-UP: above 3936.50 signal would target 3942.25. BIAS-DOWN: under 3928.75 signal would target 3918.75. NO-BIAS: between both signals.