At last some action after the range bound activity of the rest of the year. It's difficult to post any profiles today due to the ranges, but given the overnight limit down move on Nasdaq we are going to be in a fast market and levels are unlikely to be respected.

Main considerations for today - caution. The market is extremely short, though is still imbalanced lower heading towards the lowest volume area on the composite volume profile (1860-70 area). This is a potential major inflection point for a rally. Rallies can be huge and fast in this type of market. Failure there could see a flush though to the high volume 1830 area.