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

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... Monday's open was barely greeted with a pulse. But it wasn't greeted in decline so a pullback wasn't likely. That didn't automatically default to resuming the rally. Neither of the two consecutive closes above 2701.00 securing the rally's next higher objective at 2756.00 was impressive. Even less impressive was narrow ranging since Thursday afternoon, and now greeting Monday's open unchanged at Friday's 2704.50 close. So, our strategy was to consider fading tests of either end of the range, which prepared us for buying into the open's dip to 2697.00 that held the bias-down signal. Reversing up to the morning's 2710.25 bias-up signal extended to trigger and then fulfill the afternoon's bias-up target and Friday's "unfinished business" at 2719.00-2719.50. A late break higher touched 2725.00 into and out of GOOG's post-close earnings. Overnight action's new info... We have new behavior from the overnight. If follows GOOG's earning reaction having surged $30, and then collapsing $60 back into negative territory. The Globex open soon retraced its late surge from 2725.00 down to 2716.25 before midnight. Narrow sideways ranging again developed, similarly to the prior two nights. But very soon after Europe's opens a 10-1/2 point rally began to 2728.25. Its probe above yesterday's highs developed complexity to qualify as a "new Globex trend extreme" before reacting down to 2725.00. If, then... (notes to accompany the Tour recording) Nothing requires extending higher uninterrupted. Yesterday's rally created more room to expend and absorb selling pressure while maintaining momentum to the 2756.00 target in-play. Last night's "new Globex trend extreme" requires an intraday retest, which helps to ensure a reaction down will recovery. Monday's open opted not to exploit its vulnerability to a deeper pullback, and so might this morning. Attempting to extend the rally post-open and only retesting the overnight high could probe back under the overnight lows. First Trade... [Click here to view the Bias parameters] Exiting the open at 9:45 above 2723.75 would be likely to trigger the 2722.00 bias-up signal at 10:15. Exiting the open under 2717.50 would be unlikely to trigger bias-up.

Gap up, extending, and extending again. Rallying 10-11 points out of Europe's opens had tested 2728.25 before correcting down to 2724.75. That began a narrowing range which formed an Ascending Triangle. Greeting the open at its upper-end almost literally exploded higher. Resistance at 2732.50-2733.25 pushed price back down to the pre-open Triangle's 2728.25 upper-end in time to avoid renewing the bias-up signal. It's still a bias-up environment, and fresh highs just attacked 2735.00. Extending higher would next target 2737.00, and potentially 2743.50, on the way to the rally's 2751.00 (revised) target and its room for noise up to 2757.00. Otherwise, RSIs haven't reflected any enthusiasm, and back under 2730.25 would target 2726.25, potentially lower.

TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 2736.25 2735.00 ...would target 2744.00 2742.75 Bias-down: under 2729.75 2728.50 ...would target 2723.25 2722.00 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE 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.

Morning's target launches steep reversal down. [Apparently issues with Gmail and Yahoo are interfering with the Email Alerts. Delivery is sporadic, so be sure to check the blog for posts if they seem delayed. Thank you to all who replied to earlier tests.] Still overlapping this morning's 2730.00 bias-up target prevented renewing its signal. It was still a bias-up environment, and its 2737.00 renewed bias-up target was met anyway. And touching it at the morning's high reacted back down to 2730.00 as the bias environment began lapsing. The noon hour broke lower, coming to within 1 tick of this afternoon's 2722.00 bias-down target. The low's oversold RSIs formed as the noon hour was lapsing, so it doesn't require a retest. But back under 2724.75 would start to signal the low's retest underway. It's still a bias-down environment, so perhaps deeper. Meanwhile, the open's 2728.00 gap will want to be retested after having retraced back into a prior session's range. The reaction up from attacking 2722.00 has come to within 1-2 points. Neutralizing its attraction and then triggering a sell signal would be more vulnerable to extending down further.

UPDATE: Some subscribers still not receiving Email Alerts due to the Gmail issues, and elsewhere. You may provide an alternative email address to use temporarily, just include it in a reply to this post. Tuesday afternoon's rally was premature. It originated during the bias-down signal, from under its 2728.50 bias-down signal, requiring its eventual retest. That didn't prevent probing the morning's high by 3 ticks up to 2737.75. The high held its test, and its reaction violated a pullback limit. But momentum didn't reverse down. The rally's adjusted 2751.00 target and its room for noise up to 2757.00 remain in-play. But not upside momentum after a late dip violated the latest pullback limit. So, no hold-long, despite the attraction above. And no hold-short, despite the "unfinished business" below at 2728.50 (which can be neutralized overnight, and often also retraces the 1:20 print which was 2725.50). Because Tuesday morning's range contained essentially all of the afternoon, opening under Tuesday's 2722.25 low could launch a more developed pullback.By the same token, avoiding an immediate break under Tuesday's low should allow the rally to extend, possibly without delay. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 2739.50 2738.25 ...would target 2744.75 2743.50 Bias-down: under 2729.00 2727.75 ...would target 2722.00 2720.75 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE 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.