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) Sunday night's initial blip-up above Friday's highs to 3705.00 began reversing down immediately, testing Friday's open down to 3672.00. Recovering from well under Monday's bias-down target to trigger no-bias was extended through the morning up to 3696.00. The noon hour's reversal triggered bias-down and tested its 3680.00 bias-down target held. The last two hours ranged widely down to 3677.00 and up to 3693.00. Overnight action's new info... (nearby chart is last intraday session and Globex) Monday's last-minute 15-point surge was the first reaction up from the previous trend's 3677.00 target. Therefore, unreliable for reversing the trend up. And it didn't. Immediately retracing the surge back to its origin found support there again. But only to range choppily flat-to-lower through Europe's opens. And only until recently breaking sharply lower to attack 3664.00. If, then... (notes to accompany the Tour recording) Opening back above 3680.00 would start to signal that sellers are done, but only extending into positive territory through the open would signal that buyers have retaken control. Meanwhile, since 3672.00-3677.00 was already tested Sunday night to produce a bounce, this overnight retest can extend to the next lower prior highs at 3631.00-3635.00. Influence along the way at 3656.00 and 3643.00 could be temporary, or form a recovery. All of which takes place in the context of Friday's new trend extreme close, that requires at least another new trend extreme close. And also Monday afternoon's Double Bottom that created a position of strength to help recover any probes under it. Bias Parameters... (linked here)

Bouncing anyway. The overnight low's attack on 3664.00 was recovered to open back above the 3674.00 bias-down target at 3677.00. Surging from there never touched the bias-down target post-open. The open's surge tested the 3684.25 bias-down signal as resistance. Fluctuating around the gap-to-gap proxy up to 3688.00 eventually reacting down to the 3677.00 open's support. That leg triggered late bias-down. But now fresh post-open highs are testing 3693.50. Without yet printing a fresh post-10:30 low, exiting the bias environment above its 3695.50 bias-up signal would invalidate the bias-down target. Yesterday's late Double Bottom, and exiting today's open above 3680.00, already created positions of strength. Meanwhile, 3695.50 is resistance. Holding its test through noon would make 3674.00 unfinished business. Back under 3687.00 would start to signal the downleg beginning.

TUE P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3699.50 signal would target 3710.00. BIAS-DOWN: under 3691.50 signal would target 3681.00. NO-BIAS: between both signals. TUE afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3700.25 3699.50 ...would target 3711.25 3710.00 Bias-down: under 3682.75 3691.50 ...would target 3682.25 3681.00 Signal status: BIAS-UP . BIAS VIDEOS... INTRO // EXAMPLE

And new intraday highs. This morning's sponsorship all but ignored bias parameters. Bias-down triggered late, and was never confirmed after 10:30, but totally ignored the bias-down signal's resistance. Rallying to the morning's bias-up signal hovered there into the noon hour, so this morning's 3674.00 bias-down target becomes unfinished business.

Afternoon sponsorship is ignoring that, too. The noon hour extended higher, and triggered this afternoon's 3699.50 bias-up. Now Friday's 3700.00 prior intraday high is being probed by 4 points.

Sunday night's 3705.00 high does not require a retest, but Friday's high requires a higher close. And the rally's 3753.00 objective remains outstanding. Neither requires any specific timing. And if today's willingness for leaving unfinished business becomes a pattern, then this afternoon is vulnerable to a pullback that leaves its 3710.00 as unfinished business, too. A buy signal at 3686.00 absorbed every pullback limit it encountered and remains intact to this minute. Simply correcting that upleg has room for noise down to 3691.00, which coincides with support at yesterday's cash session close. So, regardless of this morning's unfinished business, rejecting today's recovery would be very difficult.

Monday night's attack on 3664.00 was recovered to open Tuesday back above the 3672.00-3677.00 lower prior highs that had contained Sunday night's dip. Rallying through the afternoon bias environment up to 3708.00 left outstanding the morning's 3674.00 late bias-down target as unfinished business. Ranging narrowly sideways through the final hour fulfilled Friday's required new high close by a 2-point margin at 3702.00. Friday's new trend extreme close had required another, which Tuesday just fulfilled. Only by the narrowest of margins, and with the session's upside momentum missing from its last 90 minutes. The rally gained no traction for its effort, with only the bias environment exit exceeding the noon hour high. Tuesday afternoon formed a Head & Shoulders reversal pattern, with the morning's fresh unfinished business below. Another downdraft wouldn't be surprising. A dip would likely either hold a test of 3691.00 or else probe well under 3664.00. Meanwhile, the burden of proof is on buyers, and maintaining a gap up would be credible for extending higher intraday. Meanwhile, the only attractions above are overbought RSIs at Tuesday 3708.00 high and the rally's next higher objective at 3753.00. Neither is in-play, only in or out of proximity, so either could be left outstanding for another downdraft. 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].

WED A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3709.00 signal would target 3718.50. BIAS-DOWN: under 3795.00 signal would target 3688.00. NO-BIAS: between both signals. WED morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3610.00 3609.00 ...would target 3619.50 3618.50 Bias-down: under 3696.00 3695.00 ...would target 3689.00 3688.00 Signal status: LATE NO-BIAS, TESTED BOTH BIAS SIGNALS . BIAS VIDEOS... INTRO // EXAMPLE