Good morning traders. Simply put, the market is in a range between SPY 120.40 and SPY 118.50. A break and hold above (or under) these prices will get me in the market looking for follow through. In regards with today’s session we have a large gap to the top of the two week range. I am going to be cautious around the top of the range and look for some consolidation give how extended we are in the overnight session. As I have said before I will also be looking at FCX as a market tell.

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SPY

121.86

121

120.40

118.50