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CHARTROOM LINK(s) o Win XP-Friendly entry o non-xp friendly (ilinc) (pre-open Market Tour begins at 8:55 ET)

Through the prior close... Friday's gap down to 1949.00 was an improvement from the 1944.25 pre-open low. The morning's bias environment rallied to 1967.50, but the balance of the session probed lower and lower lows down to 1941.25. Reactions to those lower lows each bounced back above the morning's low -- so, not actually extending down. This accumulative behavior was the afternoon's only qualification for the bullish WedEX Overnight action's new info... Flat-to-lower ranging didn't extend Friday's last bounce up to 1952.25. China's open erased it, in two legs down to 1938.50. RSIs diverged positively on its retest, launching a reversal that is now probing almost 2 points above Friday afternoon's bias environment 1957.25 high. If, then... The overnight rally could double or triple, and still be irrelevant to the bullish WedEX's influence which applies only to post-open action. Since WedEX's influence Friday afternoon was at best accumulative, Monday morning's price action should behave that much more bullishly to compensate for its delay. While rallying sharply this morning would fulfill the WedEX, don't lose sight of the possibility that the signal has failed -- and that post-open action can trend back down. Regardless, retracing all of Friday afternoon's bias environment does suggest the drop has been only a correction. First Trade... Exiting the open at 9:45 above 1957.25 would be likely to trigger this morning's 1956.25 bias-up signal at 10:15. Exiting the open back under 1953.50 would be unlikely to recover the bias-up signal in-time to trigger it. [Added 10 minutes later as the market had just surged to 1963.75: Exiting the open above 1964.00-1964.75 would be likely also to exceed the 1962.75 bias-up target at 10:15 to renew the bias-up signal.]

Pre-open pullback holds, but not yet reversed. Like the iconic 1980's poster, this morning's post-open action seems to be trying not to let go after climbing up to a high limb. The pre-open pullback from 1964.25 had touched this morning's 1956.25 bias-up signal as support. A post-open blip-down extended 2 more points momentarily. But that was recovered to the 1962.75 bias-up target. Which held. Its reaction down threatened the bias-up signal but bias-up triggered. So, this is a bias-up environment whose target has been met. Exceeding the 1962.75 bias-up target through 10:30 would have renewed the bias-up signal. It's too late for that, and already having touched the bias-up target, the balance of the morning usually only ranges sideways. Usually. Usually, the balance of the morning isn't potentially influenced by an aggressively bullish WedEX. So, I won't be considering a sell signal, and until disproved, I'll assume the rally is extending higher before noon.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  1972.25 1961.25 ...would target  1978.50  1967.50 Bias-down: under  1965.50  1954.50 ...would target 1959.75  1948.75 Signal status: BIAS-DOWN, BIAS-DOWN TARGET MET 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.

Bullish WedEX lapses in a big way. The overnight rally to 1964.25 was substantial, but nothing pre-open could be attributed to the potential bullish WedEX signal. Post-open action did probe the overnight high, and Friday morning's high, eventually trending steeply to 1969.00. That fulfilled the bullish WedEX. WedEX applies only to Friday afternoon and Monday morning -- nothing before, and nothing after. The latter part was made obvious by a plunge at 11:30 that probed fresh post-open lows. In fact, natural support at Friday's 1946.00 cash session close is being filled now (down to 1944.25). What caused the about-face -- Russia just announcing an unexploded shell landed in its Damascus embassy Sunday, or simply Europe's closing and the USD dipping? Whatever, it's too late for rejecting it through the noon hour's exit, so a bottoming effort is needed before a buy signal can be identified.

A daily summary of high-profile members of several complexes... View a more detailed discussion of each chart at the end of today's Market Wrap. Eurodollar Sep Contract (EC, ETF: (FXE, UUP)) Friday's reaction down to the upper-end of the 1.1275-1.1345 range extended down overnight to gap down Monday at the range's lower-end. Extending lower intraday tested 1.1200, so that back above 1.1275 would now resume the rally. There is otherwise no active sell signal. Gold Dec Contract (GC, ETF: (GLD)) The reaction down from having fulfilled the 1141.50 target tested 1129.40 Sunday night, which must hold to maintain the rally's momentum. Back above 1138.70 would resume the rally. Silver Dec Contract (SI, ETF: (SLV)) The 15.10 pullback limit held another shallow test Sunday night. Back above 15.33 would resume the rally. 30-year Treasury Dec Contract (US, ETF: (TLT)) Friday's steep rally to 155-24 resistance reacted down into Monday's gap down at 155-00 that trended down intraday to test 153-28. Back above 154-14 would resume the rally. Otherwise, the correction could extend next down to test 152-30. Crude Oil Oct Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short)) Rallying Sunday night back to 46.00 resistance wasn't rejected Monday, so Friday's break lower wasn't confirmed, but the rally's resumption is not signaled without also recovering 46.60. Natural Gas Oct Contract (NG, ETF: (UNG, UNL)) Gapping down Sunday night and extending lower into Monday's open prevents a buy setup from triggering without first retesting Monday's 2.55 opening gap from above 2.61 "higher prior lows."

[Click here for the Morning Bias] Monday afternoon's bias-down signal was almost rejected. Price had risen high enough, and soon enough, but then peaked... The 3:10-3:20 timing window could have confirmed the final hour's entry above the bias environment's high. Price was well-positioned again, but not optimistic enough to push higher... Then the last-minute surge avoided probing fresh highs into the close. More restrained optimism. Recovering back to Monday's 1969.00 high is already likely. Multiple instances of patient buying does makes the retest of Thursday's 2011.75 high likely, too. Of course, trending up into Monday's close would make a gap down under the afternoon's 1948.75 low form a session-decline setup. Details and other markets coverage are discussed in the post-market Wrap recording here: https://roddavid10.mitel-nhwc.com/join/rkbpzvx This evening, monitor overnight Globex price action in these chaRTroom links:  XP-Friendly   ||   non-xp ilinc

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above  1976.25 1966.25 ...would target  1984.00  1973.00 Bias-down: under  1965.50  1954.50 ...would target  1959.00  1948.00 Signal status: BIAS-DOWN, BIAS-DOWN TARGET EXCEEDED 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.