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) Thursday's equilibrium had made 2-3 convincing trending attempts likely Friday. That included the overnight 56-point collapse that probed its 3623.00-3628.00 target by 2 points. Rally 30 points through the open, retrace 27 points, then rally 33 points into the close -- all while in negative territory, with RSIs diverging into each turn. No unfinished business was left outstanding. Overnight action's new info... (nearby chart is last intraday session and Globex) Sunday night's open gapped up 15 points to 3670.00, and then nothing. Fluctuating narrowly sideways around Thursday's highs ranged back down to 3667.50, persisting through midnight and through Europe's opens. The eerie similarity to last week's topping has finally resolved by breaking higher up to 3683.50. If, then... (notes to accompany the Tour recording) Overnight similarity to last week's highs may be mooted by breaking higher. But its probe above Thursday's highs must still outlast this morning's open. Maintaining it, or repeating it after an interim dip, would suggest the pullback is done. Retesting last Wednesday's highs would be in-play, on the way to new highs. Meanwhile, the bearish alternative to at least attack Friday's lows has added an interim support back down to Friday's 3652.00-3657.00 highs. Bias Parameters... (linked here)

Being challenged by a deep detour down. The overnight high ultimately touched 3685.00, and the 3679.00 open reacted almost straight up to test and retest 3691.00. The bias-up signal is renewed. The fresh post-10:15 high at 3691.50 helps to confirm the renewed bias-up, creating a position of strength. None of which has prevented a deep, steep reaction back down to 3668.50. This starts piercing the Fibonacci gap-to-gap proxy support. Oversold 1-minute and 3-minute RSIs are nevertheless making higher lows, so bouncing enough from the gap-to-gap could reverse to fresh session highs and 3693.50. Under 3666.00 would be difficult to hold the test of Thursday's ~3670.00 lower prior highs as support. And that would undermine the recovery attempt. Extending lower would next target 3652.00-3655.00.

MON P.M. BIAS

At 1:20 the P.M. BIAS is BIAS-UP: above 3681.25 signal would target 3693.50. BIAS-DOWN: under 3664.00 signal would target 3655.00. NO-BIAS: between both signals. MON afternoon signal (triggered at 1:20 ET) SPX ES Bias-up: above 3688.25 3681.25 ...would target 3703.50 3693.50 Bias-down: under 3671.00 3664.00 ...would target 3662.00 3655.00 Signal status: BIAS-DOWN . BIAS VIDEOS... INTRO // EXAMPLE

Target met to within 2 ticks. Friday's 3655.00 cash session close is clustered with a couple of other objectives that combined to make it this afternoon's bias-down target. Attacking it to within 2 ticks essentially satisfies it. RSIs were not simultaneously oversold there, so its retest isn't required.  But this is still a bias-down environment, and the 3666.00 bias-down signal's resistance is holding bounces. Reversing up as the bias window lapses would be credible for extending the higher. Likely attractions are 3676.00-3679.00 and then 3693.50 -- not necessarily all today. Otherwise, having bounced off the upper-end of 3652.00-3655.00, the range's support is essentially moot. And its break would target the low 3640.00's.

Monday started off on a bullish foot. After gapping up Sunday night and fluctuating around last Thursday's 3670.00 high, rallying through the open extended up to 3691.50. But the balance of the session trended down, back through Friday's 3655.00 cash session close to 3637.50. Not of the same stature as unfinished business, but two positions of strength were left outstanding. Ending the first hour above all prior highs created the first position of strength. Isolating a fresh low during the afternoon bias environment lapsing created a second position of strength. Neither requires being retraced, but often is anyway. Although irrelevant while the reaction down persists, any indication of the trend reversing up would likely recover the 3661.50 and 3691.50 prior highs. Meanwhile, closing back under Friday's 3655.00 cash session close is not bullish. Whether or not it is bearish depends upon Tuesday's first 15 minutes confirming the reversal. And having trended down through the close gapping up Tuesday above Monday afternoon's 3664.50 high could form a session-long rally. 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].

TUE A.M. BIAS

At 10:15 the A.M. BIAS is BIAS-UP: above 3646.00 signal would target 3655.50. BIAS-DOWN: under 3631.25 signal would target 3617.00. NO-BIAS: between both signals. TUE morning signal (triggered at 10:15 ET) SPX ES Bias-up: above 3653.00 3646.00 ...would target 3662.50 3655.50 Bias-down: under 3638.25 3631.25 ...would target 3624.00 3617.00 Signal status: BIAS-UP, BIAS-UP TARGET EXCEEDED . BIAS VIDEOS... INTRO // EXAMPLE