I would like some company in the bunker, @golden6, but Peejay would not like the trail of pizza crusts and tequila bottles. Glad to see gold up nicely. Trying to stay impartial here today but yesterday added to the neutral feel of things. @ammie's comment reminded of how the market demands us to change.
SPX 4150 is hedged big like it was yesterday and 4143 is basic support. At the former level there appears to be more equal footing of bearish and bullish interest than there was on Friday. SPX 4200 is still major weekly resistance. Either can be broken on an important enough catalyst, but that is the basic weekly picture as I see it.
You can see in the chart how Friday's ES profile structure lacked definition. Red shades = daytime profile. Next, see how yesterday's action filled out those missing pieces above the pink line that represents Friday's low. This morning we are up in that high Friday nest again with an overnight high of 4179.50 and overnight poor low of 4156. As always, futures traders look to how we will open relative to yesterday's value area (4144 to 4157). We are currently trading above value at 4169 area, within Friday's value. The overnight session is positioned long, and we now just wait to see how we open to get a decent picture.
