Yesterday was a new low on the day, settlement low and the largest range of the year. Volume was exceptionally high at 3.9m contracts and 6.3bn shares on NYSE - 40 and 30% higher than the average this year, which has already been very high.

After the initial squeeze above the overnight balance area yesterday, sellers aggressively stepped in taking the market through the August lows

The RTH chart below shows the settlement gaps and nVPOCs above the market currently. We have the nearest HVN at 1968.50

Overnight the market has been balancing above yesterday's mid point. Draghi is on the wires currently and sees risks on the downside and significantly lower inflation for the year ahead.

The range is currently 1836.25-1876.00. Zones for today are below. The bull/bear zone remains at 1880.25-82.25 and will be very cautious of shorts above there.