The Narrow Range Day from Friday led to range expansion; Friday’s range was 7.75 and yesterdays range was 24.25. The SP 500 Emini had a trend day down after a large gap up open. We want to watch the 1100 - 1101 area, that is an area of support. It was previously an area of resistance and market had an upside breakout above it. It was tested the middle of June and so far has held as support.
Another area to note is the highs made yesterday in the regular session were at the .50 retracement.
Today starts a 2 day FOMC meeting, will look for range trading today.

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