Friday's failed breakout above the 2060-62.50 resistance zone had signs that the market had got too long short term and saw a liquidation break in the afternoon to within a tick of Thursday's open.

Overnight has been weak after Chinese data and Greek concerns with a range of 2038.75-2050.50, below Friday's settlement. The only major US economic data this week is Retail Sales and Jobless Claims on Thursday. The market is trading back within the value area of the current range and trade is likely to be driven by headlines.