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) Surging out of Monday's 3575.50 close extended up to 3606.00, and ranged sideways into Tuesday's opening dip to 3593.25. Reacting back up to 3606.0-3608.00 began sawing through its resistance to suggest the balance of the morning intended to extend higher. Which it did in attacking 3636.00. Beginning to saw through resistance also suggested a Gap-and-pause setup was forming. So an attack on 3639.00 reacted down to 3623.50 while ranging sideways through the afternoon between both bias signals. Overnight action's new info... (nearby chart is last intraday session and Globex) Rallying for 90 minutes after Tuesday's close got to 3655.00, and it's been straight down since then. The high came within 6 ticks of the bias-up target, then the low tested and retested the 3625.50 bias-down signal as support. Now a slight bounce is testing unchanged. If, then... (notes to accompany the Tour recording) Higher highs overnight don't disqualify the Gap-and-pause setup, which already qualified by fluctuating around the earlier intraday high all Tuesday afternoon. The higher highs overnight need only evaporate before Wednesday's open, and they have. Now today can fulfill the setup's pullback day, which has room to test 3588.00 before even threatening to attack 3574.00. There is no required downside target today, just its context of backing-and-filling. However deep, the setup is searching for stronger-handed buyers to resume the rally on day-3. The usual Wednesday afternoon slowdown before Thanksgiving, and the holiday itself, might interfere with the setup's timing, if not with its completion altogether. Two ends of that possible spectrum: already rallying this afternoon, or never rallying again. We'll assume the usual path unless price action stops tracking it. Meanwhile, having probed yesterday's high overnight, exiting the open under the 3634.50 earlier Globex low could form a bearish Globex-flip that points down this morning. First Trade... (9:45 preliminary indications for the 10:15 Bias parameters)

Exiting the open above 3628.00 would be unlikely to trigger the 3625.50 bias-down signal. Exiting the open under 3637.50 would be unlikely to trigger the 3641.75 bias-up signal. Exiting the open above 3644.00 would be likely to trigger bias-up.

And a bearish Globex-flip triggered. Probing above yesterday's range overnight up to 3655.00 was rejected back under the 3634.00 earlier Globex low. Exiting the first 15 minutes below it triggered a bearish Globex-flip. The setup forecasts trending down this morning. Not to any specific degree. Spending all of the first 15 minutes under yesterday's 3632.50 cash session close is forming a bearish Isolation setup. It triggers from also spending the morning under yesterday's 3639.00 high. Its downside follow-through can be immediate but not necessarily. At least the setup lays a marker for a reversal beginning. Its eventual minimum target would be last week's 3542.00 origin of the subsequent upleg. Meanwhile, the Gap-and-pause setup remains on-track. Assuming today's pullback day remains influential through the noon hour, we'll monitor for potential to accelerate the rally stage. It would otherwise coincide with Thanksgiving day or Friday's half-day.

WED P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3627.25 signal would target 3635.75. BIAS-DOWN: under 3617.75 signal would target 3610.25. NO-BIAS: between both signals. WED afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3629.50 3627.25 ...would target 3638.00 3635.75 Bias-down: under 3620.00 3617.75 ...would target 3612.50 3610.25 Signal status: LATE NO-BIAS, TESTED BIAS-UP SIGNAL . BIAS VIDEOS... INTRO // EXAMPLE

At the whim of volume. Blipping down while the morning bias window was lapsing attacked the earlier 3615.25 low to within 5 ticks. And that earlier low had probed under overnight lows. Which fulfills the bearish Globex-flip. Not rallying this afternoon would make the setup's bearish influence likely to repeat... when the next session isn't a holiday. Spending the entire first 15 minutes in negative territory, and then the entire morning under yesterday's highs, has formed a bearish Isolation setup. Closing negative would trigger the setup, targeting last week's lows -- regardless of developing any interim bounce. This afternoon's 3627.25 bias-up signal held its test to trigger late no-bias. It is being tested up to 3629.00, despite an interim dip down to 3622.00. An offsetting test of this afternoon's bias-down signal isn't required, but the 3627.25 bias-up signal should define the window's upper-end and hold as resistance. Meanwhile, this morning's 3612.75 bias-down target remains outstanding.

The pullback day proscribed by Tuesday's Gap-and-pause setup was fulfilled, albeit to the least possible degree. There was plenty of selling, especially from Tuesday night's initial surge to fresh recovery highs at 3655.00. It was reversed relentlessly to trigger a bearish Globex-flip setup, extending the decline to Wednesday morning's 3615.25 low. The morning's 3612.75 bias-down target wasn't met while the window ranged sideways up to 3625.50. The afternoon's bounce up to 3632.00 was retraced back into the morning window under its 3625.50 high. Trading exclusively in negative territory through the first 15 minutes also formed a bearish Isolation setup. It was triggered by spending the morning under Tuesday's highs. And its objective is to retest last week's 3542.00 low. Extending down any more aggressively before resuming the rally would have that objective -- which would jeopardize the recovery. Otherwise, resuming the rally would come from a shaky base, doomed to failure when its higher objectives are met. The chaRTroom will remain open through Thanksgiving, while Globex trades until 1:00 ET and then re-opens at 6:00 ET. Happy Thanksgiving! 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].

FRI A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3636.25 signal would target 3648.25. BIAS-DOWN: under 3618.50 signal would target 3609.50. NO-BIAS: between both signals. FRI morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3638.50 3636.25 ...would target 3650.50 3648.25 Bias-down: under 3620.75 3618.50 ...would target 3611.75 3609.50 Signal status: BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE