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) Choppily ranging flat-to-lower overnight had dipped to 3480.00 before recovering back up to Monday's 3400.00 high. Tuesday's 3406.00 post-open high was retraced by choppy ranging back down to 3386.00 at noon. Rallying from there exited the afternoon bias environment attacking 3422.00. Among other catalysts was renewed stimulus talks, which were ambushed by Trump rejecting the latest offer with prejudice. Plunging eventually tested 3344.00 before the close. Extending down after the close had touched 3330.50. Overnight action's new info... (nearby chart is last intraday session and Globex) Immediately popping up found resistance at the gap-to-gap which had defined the intraday low. Its reaction down quickly attacked 3332.00, and just as quickly reversed back up into relentless overnight trending. Surging out of Europe's opens tested 3378.00, whose reaction down is now trying to recover. If, then... (notes to accompany the Tour recording) The Globex low qualifies as extending the intraday knee-jerk headline reaction. The overnight recovery hasn't fulfilled a 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} correction of the headline reaction, which is either 3386.00 or 3392.00. The relentless overnight trending could turn bearish if the open were to trend down, but otherwise, would likelier extend higher through the morning. The 3384.00-3388.00 upper-end of last week's range is now resistance, again, but closing above it wouldn't qualify as another breakout. Reversing down would find only obligatory support at Friday's 3357.00 lower prior highs, and possibly an air pocket down through last week's ~3314.00 intraday lows. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3366.00 would be likely to trigger the 3360.25 bias-up signal. Exiting the open under 3355.00 would be unlikely to trigger bias-up.

The bounce persists. Rallying overnight extended higher to attack 3385.00 pre-open. Exiting the opening 15 minutes higher suggests that intraday reinforcements will produce further uptrending to some degree through the morning bias environment. The first half-hour's test of 3395.00 fulfilled the 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} corrective measurements of yesterday's headline reaction. Recovering its reaction down to 3383.50 is now probing fresh post-open highs attacking 3398.00. Meanwhile, exceeding the 3381.25 bias-up target at 10:15 renewed the bias-up signal. Next higher objectives are 3400.50, potentially 3414.00, and possibly even the complete retracement to yesterday's attack on 3422.00. Regardless of extending higher this morning, this afternoon would be vulnerable again to another downleg. Gap-to-gap support is essentially 3364.00 before starting to signal the trend reversing down.

WED P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3401.50 signal would target 3414.00. BIAS-DOWN: under 3374.00 signal would target 3384.25. NO-BIAS: between both signals. WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3411.75 3401.50 ...would target 3424.25 3414.00 Bias-down: under 3494.25 3484.25 ...would target 3484.00 3474.00 Signal status: NO-BIAS . BIAS VIDEOS... INTRO // EXAMPLE

Neither bias signal touched. Flat-to-higher ranging since entering the morning bias environment persisted through the noon hour. Slightly higher highs into the afternoon bias environment avoided touching the 3401.50 bias-up signal in time to trigger. So, now testing the 3414.00 bias-up target -- despite not triggering bias-up -- is no-bias trending that requires at least retracing 3401.50. This no-bias trending could extend to retest yesterday's 3422.00 highs. That's likely, now being within its orbit, and there being overbought RSIs at its high. But I'm raising the sell signal as aggressively as possible to prepare for any sudden reversal down. Overbought RSIs at the high, albeit lower overbought, make at least its retest likely. But back under 3405.00 would start to signal the unfinished business will be left outstanding while a deeper downleg develops. NOTE: Some sort of technical issue apparently prevented publishing this post when normally scheduled. I've updated it while waiting for a resolution, so its commentary is current.

Wednesday was greeted by relentless overnight trending at 3381.00. Exiting the open above the 3385.00 pre-open high signaled that strong-handed reinforcements had arrived to extend the rally. The morning improved only slightly from there, but holding up through the noon hour kept upside momentum intact. No-bias trending extended higher to attack 3417.00. The 3401.50 afternoon bias signal requires being retraced. A lot of buying pressure was expended Wednesday just to retrace most of Tuesday's headline reaction plunge. Overbought RSIs at the plunge's 3422.00 high are all but assured of being retested prior to another downdraft. Neutralizing the attraction isn't any likelier to extend further, but the next higher objective would be 3433.00. Regardless of extending higher, reversing down might find some last chance at support just under 3400.00. But any lower would be unlikely to find influential support before testing Wednesday's gap-to-gap retracement around 3364.00. All of which would still be contained within Tuesday's plunge, and not yet any likelier to resolve the recent range. 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].

THU A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3414.25 signal would target 3422.75. BIAS-DOWN: under 3398.25 signal would target 3387.50. NO-BIAS: between both signals. THU morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3424.50 3414.25 ...would target 3433.00 3422.75 Bias-down: under 3408.25 3398.25 ...would target 3397.50 3387.50 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE