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) Flat-to-higher overnight ranging at or around Thursday's 3453.00 high was its most optimistic just minutes before Friday's open at 3462.50. Gapping didn't ensure trending up, and a post-open dip back under Thursday's high only sunk deeper and deeper to the noon hour's 3431.50 low. Fridays often front-load their trending, so the balance of the session only bounced back up to Thursday's highs at 3458.50. Overnight action's new info... (nearby chart is last intraday session and Globex) Weekend developments included a tightening Presidential race -- although Biden remains in the lead -- and global lockdowns/protests as governments respond to multi-day rising COVID rates. Sunday night's open gapped down to 3446.00 and slid sharply to 3425.00. Bouncing to 3442.00 had been retraced into Europe's opens, sliding sharply again to 3412.00. Another bounce is testing 3422.00. If, then... (notes to accompany the Tour recording) Friday's recovery back into positive territory helped to confirm that Thursday neutralized its obligatory probe under 3428.00. Recovering Thursday's highs would have been more reliable confirmation, but instead remained vulnerable to what has developed overnight. And the vulnerability remains in effect intraday. Bullish influence from Friday afternoon's PM Traction setup could depend on trending up through the open, which would also trigger a bullish relentless overnight trending setup. Quickly or already recovering 3428.00 would help, too. Otherwise, the 3403.00-3408.00 area could be a last line of defense to simply trending down. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open under 3433.00 would be likely also to exceed the 3438.00 bias-down target to renew the bias-down signal.

Collapse to fresh lows. The opening 15 minutes didn't trend either way, mooting any reliable influence of the PM traction and relentless overnight trending setups. Struggling anyway to recover only overlapped 3428.00 after the first half-hour, and only by 2 points. And only to 10:15. A lot of energy was expended trying unsuccessfully to reverse up. Triggering bias-down at 10:15 was likely to see that energy capitulate. To some degree, however shallow or deep, however brief or enduring. And the reaction down has been deep. Overnight lows and last week's lows were probed down to 3405.00. A continuation pattern that formed there is resolving down even more aggressively to 3387.00. Simultaneously oversold 1-minute and 3-minute RSIs have accompanied each bottoming effort to warn of its likely failure. 3388.00 is a significant target, with room for noise down to the 3384.00 area. Any recovery attempt from this pattern won't be credible without some sort of bottoming effort, preferably while RSIs diverge positively, and/or recovering 3401.50 through a relevant timing window. Otherwise, the next lower objectives might not be supportive until 3356.00.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3401.50 signal would target 3417.75. BIAS-DOWN: under 3377.75 signal would target 3365.50. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3409.75 3401.50 ...would target 3426.00 3417.75 Bias-down: under 3485.75 3477.75 ...would target 3473.50 3465.50 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE

A lot, touching its next major objective. This morning's bias environment ended at fresh session lows testing 3380.00. Ranging sideways ended halfway through the noon hour as the decline resumed. This afternoon's 3365.50 bias-down target was attacked at 1:20, and the decline's next likely objective at 3356.00 was touched soon after. Now a 15-point bounce is probing a 3366.00 buy signal by 5 points. Oversold RSIs at the low will inhibit a recovery, but there's room up to 3381.00 or 3384.25 just as a correction. Meanwhile, the bounce may be ending already at 3374.00, and back under 3365.00 would target at least a retest of the low.

Still not rallying Monday would be likely to break deeply, if not also launch a new downleg. That entire break wasn't any likelier to be substantial immediately. But Monday's gap down slid sharply from the open's 3420.00 high, down to the decline's substantial target at 3356.00. Its reaction ultimately probed the noon hour highs up to 3398.50. Only oversold RSIs were left outstanding at the low. No relevant level was recovered through Monday's close. Holding a retest of Monday's low could start to form a bullish bottom. Rallying immediately instead would be credible for extending, albeit leaving the oversold RSIs as unfinished business. Nearby lower targets are at 3333.00 and 3322.00. Either could be exceeded, but the resolution of their test could be predictive. Meanwhile, the next higher significant resistance is 3428.00. 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 BIAS-UP: above 3407.75 signal would target 3416.50. BIAS-DOWN: under 3387.00 signal would target 3375.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3416.00 3407.75 ...would target 3324.75 3416.50 Bias-down: under 3395.00 3387.00 ...would target 3383.00 3375.00 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE