Yesterday's sell off had already made a large move ahead of the open and inventory was heavily short from overnight. There was a brief rally up to the 1938-40 resistance zone mentioned yesterday, before sellers regained control. The late flush lower saw very aggressive/forced selling which pushed under 1900. This rebounded to settle above the overnight low at 1916.00. Volume was 2.8m contracts and 4.3bn shares traded on NYSE.

There is still a gap above which maybe filled if buyers can force through yesterday's high and cause a short covering move back up to yesterday's overnight high at 1966.25. However, we may balance within yesterday's range (black box above). A move lower, underneath yesterday's value, gives shorts the opportunity to push down into the 1865-70 composite low volume area.