We had gap trading rules in play yesterday, and the larger the gap the less likely it will be closed on that day. Even after a 10 point range gap there was a drive higher after the open, followed by a slow grind higher for the remainder of the day. As the market got more and more long in the day timeframe the risk of a liquidation break increased, though this didn't happen until the end of the session.

Overnight the market has been weak along with a strong dollar. The range is 2062.25-76.75 currently, testing the top of the RTH gap. I'm expecting more of a push lower into the gap and for trade test the bull/bear zone and potentially lower support at 51.75-54.75. Failure to trade though bull/bear zone would put first overhead resistance at 69.00-70.75.