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) Wednesday's pullback day teased at extended lower overnight. But its dip to 3811.00 was recovered to maintain a gap up Thursday at or above relevant resistance. Tuesday morning's rally had resumed, and extended higher relentlessly to attack 3870.00 through the new high close. Last week's unfinished business was neutralized, leaving the rally's last outstanding attraction at 3884.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Initially retracing Thursday's late surge by 61.8{faed0d6dca04cec8b6b7985efddb9b0651107a3aebb05f69f0166038b8c951f6} down to 3860.00, the balance of the night has trended higher in several legs to test 3886.00. If there were any doubt that the first leg itself had already been complex to form a Globex trend extreme, the multiple legs make it clear. If, then... (notes to accompany the Tour recording) The Sep-Nov massive Symmetrical Triangle's 3884.00 target is now met. And the effort is creating 1-2 new items of unfinished business. Complexity in the overnight rally has formed a Globex trend extreme, requiring intraday retest, often but not always the same day. And unless reacting very negatively to this morning's Employment Situation report, the open's gap up will want to be retested from below. Both of which can be left outstanding in case post-open action were to plunge into the weekend. That path was opened wider by Wednesday's relatively shallow, brief pullback, which forms an unsteady base that could be revisited as support and broken easily down to 3853.50 and 3835.00. Extending the rally would next target 3977.00. Friday Factors should be considered in making trade decisions, which I review during this morning's Market Tour. Bias Parameters... (linked here)

Other stuff met, too. The pre-open pullback was recovered entirely to open at the 3886.25 overnight high. Its Globex trend extreme was neutralized as quickly as its intraday test became required. This also tested the rally's 3884.00 objective post-open. And also this morning's 3882.50 bias-up target. All of which sellers exploited by reacting down to 3868.50. The 3870.50 bias-up signal held its test to trigger late bias-up. Despite already being tested post-open, the 3882.50 bias-up target is being retested now as it often is anyway. Friday Factors make this morning's bias signal likely to persist through the noon hour. This keeps the door open to extending higher, and closes the door a little to reversing down. Neither is required, so we'll keep tracking signals for either. Until a prior session's range is tested, today's 3885.50 gap above all prior highs doesn't yet require being filled. And until the close is above prior highs, no higher close is yet required.

FRI P.M. BIAS

At 1:20 the P.M. BIAS is LATE NO-BIAS, TESTED BIAS-UP SIGNAL BIAS-UP: above 3885.00 signal would target 3894.00. BIAS-DOWN: under 3873.00 signal would target 3865.00. NO-BIAS: between both signals.

Fresh high gaining no traction. The post-open 3868.50 low reacted up to test the morning's 3882.50 bias-up signal by several ticks. Ranging narrowed into noon, and the noon hour rallied to new highs testing 3888.00. But no-bias has triggered late, having held a test of the 3885.00 bias-up signal. No offsetting test of the bias-down signal is required, but hovering narrowly all afternoon at session highs is unlikely. Late no-bias could trend up anyway -- Fridays can get carried away. But flat-to-lower through the close is the likeliest path into the weekend.

Thursday night's rally had tested and retested the rally's 3884.00 next major objective by 2 points. Its reaction into the morning bias window tested the bias-up signal down to 3868.50, and recovered in time to trigger. New highs through the noon hour tested 3888.00, and reversing through the balance of the session attacked 3875.00. A post-close bounce ended poetically at 3884.00. Closing above 3884.00 would have been the first step for putting into play the rally's next higher potential target. The second step would be also closing above 3884.00 Monday. Friday's new trend high close all but ensures another eventual higher close, but not necessarily Monday. There is no other unfinished business. The morning's reaction touched the tip of Thursday's range before recovering to new highs. That filled the gap back to the 3885.50 gap above all prior highs that would have become an upside attraction if left outstanding. Ranging relatively narrowly sideways intraday at new highs isn't necessarily bearish. But neither is it necessarily bullish, at its target, into the weekend. Paths and candidates for a pullback (remember the shallow, brief pullback day?) will be described at Saturday Review, along with upside potential. 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. PLEASE JOIN US AT 9:30 ET FOR THIS WEEKEND'S SATURDAY REVIEW.

MON A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP, BIAS-UP TARGET MET BIAS-UP: above 3889.00 signal would target 3899.00. BIAS-DOWN: under 3874.00 signal would target 3865.00. NO-BIAS: between both signals.