Hi MoxieDoll, welcome to Psych Central!
I haven't done any mood-monitoring since I was in my teens so I'm no expert on the subject. It seems to me, though, that there'd be no such thing as a baseline mood without any reaction to events. How I feel first thing in the morning seems to depend a good deal on what kind of events I
expect to be dealing with that day (and even more, on how well prepared I feel to deal with them).