Yesterday saw a failed breakdown attempt from the balance of the prior 3 days. The overnight news related to the Russian jet being downed did not escalate any further so we didn't see any panic selling. Volume was a fairly average 1.5m contracts and 3.8bn shares on NYSE.

Overnight so far the range is 2082.25-92.50, versus settlement at 2084.75. Bulls showed strength yesterday, though if price starts to accept below yesterday's value area I'm anticipating a move to the naked VPOC at 2062.75. If, however, the market holds well above the 2084 area, it's a sign that bulls have regained control and will be looking to take out the poor high from Monday and move higher towards the upper zones shown below.