Last month's range: 2317.75-97.50 2365.00 VPOC
Feb range: 2261.00-2367.25
Last week's range: 2317.75-66.75
Weekly has made lower lows for past 2 bars. Acceptance above 2265.00 puts buyers back in control.
The profiles from last Weds and Thurs has left weak highs vulnerable to a break out above. Volumes have been low on the squeeze up from last week's low. We'll need to see increased volume and market breadth to maintain a rally above the 2365 level to regain the down move from March 21st.
Overnight has ranged between 2356.00-63.25 so far, taking out Friday's overnight low at 56.75. A fairly busy eco calendar is due this week with the FOMC minutes and employment report the highlights. 2365 is the key pivot I'm watching for a clue to short term direction. Failure to break through opens up the chance of a move lower into the poor structure from last week.
Zones for today: