Tuesday's Recap

With the market opening inside prior day range with a small gap, a choppy non-trend type of day was to be expected. Upon closing the gap and re-testing prior day low the market promptly rally to the Point-of-Control area at the .786 retracement level. There were several failed attempts at breaking the POC resistance level  before reversing back down breaking below the morning low. True to its choppy nature, after breaking below the morning low the market promptly rallied to close near the day high.

As for tomorrow, the key Line-in-the-Sand Level to watch for is the POC and the .786 retracement area at 2220 to the upside, as a break would imply a likely move up to higher-high above Monday's swing high. However, a failure to break above the LIS resistance level would imply a likely decline to test today's low or even a move to below today's low.