We got the move away from balance to the upside yesterday and pushed above the breakdown area from 09/09 (together with a sharp sell off in bonds). Longs will want to hold above at least the bottom of the lower distribution or risk a move back into the prior balance. A move above yesterday's high could see an attempt to push above the 1983.00 swing high - lots of stops to run ahead of tomorrow's FOMC announcement. I'm using 1956.00-58.00 as a bull/bear zone today.
Overnight has a range of 1962.75-72.75 versus settlement at 1970.00 ahead of CPI at 07.30 ct.
Expectations in order for today are either:
1. Continued upside and a push above the 1983 swing high.
2. Failed break higher and balance within yesterday's value.
3. No break higher and an attempt to push back towards yesterday's overnight high at 1952.00