Yesterday ended up a narrow range, inside day on low volume (1.1m contracts and 3.3bn shares on NYSE). Market internals were weak for the session, though unusually for the second day in a row neither the overnight high or low were taken out.
The story remains the same for now that the longs remain in control, and I'm looking for a push to the 2077.50-79.00 zone (see below), preferably with the market holding above Friday's low. The gap still remains open from Thursday so I'm aware we may see a break to close this and look for buyers. There is a spike in the profile from Thursday between 2049.00-54.00. Ideally for longs the market doesn't want to start trading below that spike or there's a chance we may see rotation through that value area, though the 2045.50 naked VPOC may provide support.
This is a highly news sensitive few days ahead with results from Apple and Exxon alone moving $1 Trillion of market capitalisation, plus the Fed announcement tomorrow.
Overnight the range is currently 2056.75 (Friday's RTH low) to 2063.75 versus settlement at 2062.25 (net short).