Not much time to shade the support and resistance levels below, but we’re presenting two scenarios for the overnight range (see gray colored rectangles.   The break of 941.25 or 938.25 will determine the direction.

As promised, we are updating and have a confirmed break of the NYSE advance:decline ratio trendline support.  Accordingly, the Globex high of 939.75 is likely to hold throughout the day, possibly into Wednesday.  Should it break, however, longs still have the pivot/gap area of 940.50 to 943.75 to deal with.

Most sectors are in the red, with Consumer non-cyclical mixed (and also strongest), some large gainers in financial (overall red, though), with only a tech and utitilies seeing some green.

Click here.