Proper context can start the day with a solid win and make all the difference.

NEW DAILY SCHEDULE First, watch the pre-open Tour recording HERE <<== Then, meet in the chaRTroom here by 9:15 ET for updates and Q&A

Through the prior close... Wednesday's opening strength had tried extending the overnight recovery from testing 2429.00. Post-open strength came within 3 ticks of the 2440.75 bias-up signal, and then reversed down sharply. The reversal filled the gap back down to Friday's 2430.50 close. So did Wednesday afternoon's low. No timing window broke lower, but neither was a recovery yet indicated. Overnight action's new info... Yesterday afternoon's 2428.00-2434.50 range has contained overnight action. Actually, within its upper-2/3rds, until Europe's opens triggered a slide back to its lower-end. That was temporary -- or else its reaction back up is temporary -- as yesterday's 2433.25 close is now being attacked. If, then... Filling another session's gap without resolving that day usually resolves overnight. So, still ranging around the gap back down to Friday's 2430.50 close yesterday was likely to greet this morning's open gapping up or gapping down. Regardless, neither is currently indicated, nor has either been threatened overnight. The late, momentary dip back to yesterday's 2428.00 low has reacted up to unchanged, which is natural resistance, and positioning for a gap up can't afford to delay extending through unchanged as the open approaches. Gapping up too shallowly would be likely to resolve down, as would a flat-to-lower open, even if only for the morning. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 under 2427.75 would be likely to trigger the 2429.00 bias-down signal at 10:15. Exiting the open under 2434.00 would be unlikely to trigger the 2437.50 bias-up signal. Phonetic dictation... okay good morning and welcome it is Thursday it's time for Thursday's morning market tour and not a lot going on there's a couple clues in here nothing decisive yet just to refresh here's the current Challenge and that is yesterday's pretty much a whole life story was about filling the Gap repeatedly back down to Friday's close Friday's close Angeli Fridays lower prioritize Friday's close basically being 3050 lower price within in the internal lower prioritize 2850 teston down to what 28 precisely so how'd that go well it held also holding was the prior days test late not out entire day's worth of testing the just a very late test last Wednesday's Gap that's a problem with or even risk I suppose of filling a gap intraday and not then attracting sponsorship in the opposite direction let alone for breaking through it it leaves the next open vulnerable typically to the prevailing Trend the prevailing trend into yesterday's open was already down when the Gap Phil to last Wednesday's close had not been rejected the prevailing trend of course then remains down into today's open as all these tests this gap-fill can't even see the one that happened before yesterday's open overnight Gap fill Gap Phil also wasn't rejected before the open so that's okay that can be resolved typically it is resolved and I don't mean to not typically it is resolved overnight by gapping in one direction of the other not to the degree that developed but I'm available add resistance so this is the opportunity we're getting close not yet to close we getting kind of close 2 hours away from the open if any kind of Gap up is going to be indicated where none has yet been threatened then that means to get on with it and more so to the upside more so to the upside because I too shallow of a gap up and that's the bigger Challenge from sitting at 32 33 needed to Gap up above 40 That's the bigger ground to cover just to get position to postured for a gap up before they open so not a lot of time to waste for that and not a lot of news coming out before then whereas here at the most recent attempt after overnight there been a couple of attempts at breaking higher most recent attempt was just to touch the low if it's reaction up is just a correction I suspect even if before the open back under 3025 will launch a break to Fresh Lowe's bag of 34 I give benefit of the doubt for at least challenging 2440 still not assured of a gap up sufficient to reverse the momentum up and real quickly then on the bigger picture yeah put Gap up does clear promotes morning buying pressure up 2:43 or so 4275 is it yesterday's add bigger bells necessarily both have had two days of not extending or trying to extend a confirmed Breakout so they're declines should resume today overnight not so much but silver is what up here at 1664 65 two testing a higher Pryor live making today's pattern likely to resolve down that's the path to compare today's price action to if it's not doing that then there's a bigger balance coming we could get to 17 retest 17 before resolving down if this is not containing not only not containing the balance but also rejecting it today somewhat similar leave shallower balance though and go Longmont still has this 15624 higher high outstanding does 156 23 suffice yeah it could but it was a reason why can't other than it would be helpful for that to develop print intraday that's the only thing other than that so long as yesterday there's no reason why not enough to change the calculable inflection points but that is unchanged right there at 3325 okay any questions please post under the chart room or I will see you before they open good luck today .

Choppy ranging around unchanged. The gap back to Friday's 2430.50 close is still being tested. It was tested so thoroughly yesterday that its support has been chipped away. So, hesitating here this morning cannot be due to that.  Either the morning doesn't intend to trend, or else an attraction above must be tested before trending down. 3 of the first hour's 5 15-minute checkpoints overlapped yesterday's 2431.25 close. This suggests the morning hasn't attracted sponsorship for trending. Not in either direction. Also, neither bias signal was touched. Meanwhile, repeatedly probing an infection point at 2431.25 has failed to break each probe's 3-4 minute low. This suggests the rubber band must be stretched before snapping back. In either direction. Both can apply, but more so the latter. Especially now that the 2430.00-2434.00 opening range has broken higher to 2436.25.. The 2437.50 bias-up signal could be tested, and still be vulnerable if not also likely to resolving down.

THU afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above  2441.00 2438.50 ...would target  2445.75  2443.50 Bias-down: under  2434.50  2432.25 ...would target 2429.00  2426.50 Signal status: NO-BIAS, TESTED BIAS-UP SIGNAL 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.

Retesting a prior high. This morning's no-bias signal triggered after a relatively narrow opening range. Breaking higher during the no-bias environment held tests of the 2437.50 bias-up signal, as it should. 2437.50  has held through the noon hour and now into the afternoon bias environment, too. It's also testing 2438.00, which has been relevant resistance. It was Monday's post-close blip-up. And its retest defined yesterday's pre-open high.

Now 2438.00 has defined this morning's high, and it's still being tested.

It could be probed up to 2441.75. But back under 2436.00 would start to signal this morning's bounce -- and the noon hour's firming -- have attracted stronger sellers to probe under yesterday's 2428.00 low.

Thursday's opening checkpoints indicated a lack of sponsorship, at least for the morning. Actually, that didn't prevent the open's narrow range from launching a morning surge. But the sure was contained by the bias-up signal. That was almost the session's only semblance of sponsorship, as the afternoon settled into its own narrow range. Thursday's other trending was during the position-squaring window. Dropping under the afternoon's 2436.00 sell signal retraced the morning's surge and closed negative. The late origin of the afternoon's drop does undermine its sponsorship as being weak-handed. But the setup is bearish because its retracement undermines the sponsorship of the morning surge's rally. Unless Friday's open were gapping up above Thursday afternoon's 2438.50 high to trigger a "session-long rally," resuming the decline to the 2415.00 area is likely. Details and other markets coverage are discussed in the post-market Wrap recording here.

Monitor overnight Globex trading in the chaRTroom here.

FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above  2438.75 2436.25 ...would target  2444.00 2441.75 Bias-down: under  2431.00 2428.50 ...would target 2426.00  2423.25 Signal status: NO-BIAS, TESTED BIAS-DOWN SIGNAL 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.