Friday Prep

A fairly slow day with the majority of trade inside the prior day. The break of 2156 didn't motivate sellers to break down heavily beyond 54 and we saw short covering back up into value and a close near the high (cumulative delta went from -28k at the low to +6k at the close).

The lack of directional conviction can be attributed to the jobs report due at 07:30ct. Bond yields dropped sharply yesterday as the dollar sold off. 

The current balance area has the highest volume skewed to the upside, with the range vpoc at 2264.50. The overnight trade range is currently 2261.50-65.25, staying close to that level. Zones remain much the same for today and overall bias remains neutral/bullish until the current range low is rejected. Therefore will be looking for responsive buying action on a break lower, depending on volume and momentum into it.