Yesterday was a good example of the auction process playing out. Sellers had been dominant and bias bearish going into the day with the downside target at 2042, which is the most traded price in volume for the past 5 years (back adjusted). Buyers took over control and pushed back inside the gap, found support inside of Tuesday's range and eventually back up to the prior day's open and the current week's VPOC (see weekly profile).
Day session Market & Volume Profiles
Weekly Profile - Full session
Extended higher to test Wednesday's VAH and found support at bottom of yesterday's short term bull/bear.
Current range: 2064.50-74.75
Quadruple witching today so be aware of increased volatility at the open and close.
I would look for a potential range between 2055-80 as my primary expectation, with bulls back in the driving seat - consolidating some of yesterday's range down to the mid morning pullback support and pushing up to test the FOMC high.