Monday Prep

Friday's open drive higher would have squeezed late shorts from the prior two days. It also left a long buying tail when through the overnight high associated with a short squeeze. Volume from Wednesday to Friday was 2.78m, 2.44m & 1.65m. If volume continues to drop, that does not give great strength/confidence in the rally. Sellers are likely to defend the breakdown areas heavily from the beginning of last week. 

Overnight has ranged between 2378.25-85.25 on fairly low volume. With Trump on tour, anything could happen, though I'm sure he's under major pressure to not go off script. Crude continues it's strength, above $51. Fixed interest has been quiet, though holding the lower yields from the move last week. 

Zones for today: