Friday Prep

The large gap from yesterday's open continued lower straight through the overnight low and stopped at the Sept 15th swing low at 2107.75. This had potential for longer time frame buyers to step in and trap a lot of shorts with the market over 20 points off the prior close. There was aggressive buying in D period and a trending move higher began once holding above the open, back towards prior settlement

Overnight so far the range is 2122.25-38.75 having rallied during the European session. Bonds have given back their gains from yesterday post 30yr auction. Financials are in the spotlight for earnings today with JPM already reporting better than expected numbers, with retail sales and PPI due at 07:30 ct.

Today's zones i'm using below - if the market can break through the 2138.25-40.50 and hold above we could see continuation higher towards the 2152.50 CHVN