The extremely low volume environment shows that activity is dominated by day time frame traders. Friday turned over just 765k contracts and 2.5bn shares traded on NYSE, going into the long weekend.

The breakout above the Feb 25th high at 2117.75 is faltering and acceptance back inside that level could see weak longs throw in the towel.

The range formed over the past couple of weeks has a prominent VPOC at 2124.25 which is an important pivot going into today. Overnight the range is 2115.25-2127.00 versus settlement at 2124.50 on Friday. The all time high has yet to be hit during regular trading hours, which is a high odds scenario.