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... (summary of last Market Wrap) Thursday night's wide range had probed the late intraday low down to 3077.00, and recovered up to 3088.00. Friday's 3080.00 open repeated the pattern by first dropping as low as 3072.50 in reaction to a China trade headline, and then recovering back up to Thursday's 3084.50-3086.00 close. The recovery missed an opportunity to gain traction at the bias environment exit, but remained vulnerable to extending higher through the last half-hour up to 3092.50. The new trend high close was still within Thursday's range. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open immediately began retracing Friday's rally. Trending down relentlessly through midnight had even retraced Thursday night's 3077.00 lows. Bouncing temporarily through Europe's opens attacked 3083.50, and now another bounce is testing Friday's 3080.00 open. If, then... (notes to accompany the Tour recording) Friday created no new "unfinished business" or left any other upside attraction outstanding. During this weekend's Saturday Review we discussed the new vulnerability to a deeper pullback, with potential down to 3066.00 or 3044.50. Exiting this morning's open under Friday's 3080.00 open would put the rally on defense, which could either extend down without delay or else try retracing the opening weakness. Extending down would likely be aggressive, as there probably isn't much nearby support. Similarly, any credible rally would likely be aggressive. First Trade... (preliminary indications for the Bias parameters) Exiting the open at 9:45 under 3083.50 would be likely to trigger the 3085.25 bias-down signal at 10:15. Exiting the open above 3088.00 would be unlikely to trigger bias-down.

Fresh low reacts up. The 3077.00 overnight low had reacted up through Europe's open, but only temporarily. Another reaction up from testing 3077.00 was shallower, but also only temporary. Its last test of 3077.00 broken lower through the open, but quickly found a low at 3074.50. The open's dip gained traction for being immediately aggressive, and for not reacting up enough to be rejected. That hasn't prevented bouncing higher to 3083.75, within 3 ticks of the bounce's 3084.50 potential. But the 3085.25 bias-down signal triggered. And it wasn't recovered through 10:30. Its objective is to retest the 3078.25 bias-down target, despite the interim bounce. Having already tested 3078.25 during the open, leaving its retest outstanding won't become "unfinished business." But meanwhile its attraction will define the bias environment.

MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3085.25 3084.50 ...would target 3092.00 3090.75 Bias-down: under 3079.25 3078.25 ...would target 3071.25 3070.25 Signal status: BIAS-UP . 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.

Monday's Veteran's Day holiday had an opportunity to start the pullback I had described during the weekend's Saturday Review. In fact, Sunday night trended down relentlessly from Friday's 3092.00 close, albeit holding tests of 3077.00 through Europe's opens. And Monday's 3076.00 open did immediately probe lower to 3074.50. But that's where sellers stopped. Actually, their influence held price low enough for long enough to form an anchor. But its position of weakness didn't prevent the balance of the session from rallying up to 3088.00. Or from triggering the afternoon's bias-up signal that left outstanding its 3090.75 bias-up target as "unfinished business." However, Monday's post-open uptrend was an "Inside Day" contained within Friday's range. And having trended up intraday, its sponsorship is weak-handed, which is bearish from a contrarian perspective. Gapping up Tuesday above Friday's 3092.00 high could neutralize the bearish context and allow rallying intraday. Otherwise, whether before or after neutralizing 3090.75, the pattern remains vulnerable to another downleg. Under Monday's anchor in the 3077.00 area is probably an air pocket, next targeting 3066.00 and potentially 3044.50. Details and other markets coverage are discussed in the post-market Wrap recording here. Monitor overnight Globex trading in the chaRTroom here.

TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3089.75 3088.75 ...would target 3095.00 3094.00 Bias-down: under 3082.00 3081.00 ...would target 3074.00 3073.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . 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.