Market internals and price action so far suggests a range day, with yesterday’s low having been tested within a tick (909.75 low today) and the CT long from 10.50 having seen a nice 4 pt reversal.  However, as this is Friday we do not trust the morning range session to necessarily continue into the afternoon.  Consumer Sentiment was slightly above expectations, but failed to give the markets a boost, which gives us a bearish tilt.  As we write, the ES is again testing its 909.75 low and, should it break, we look for a test of the 901.25 Fib confluence area mentioned in this morning’s report.  Shorts can fade a rally into VWAP at 913.00, but should be careful as overnight highs could easily be tested.  We would prefer to hold out for 916-919, not wanting 922 to be exceeded.  Longs should enter above 909.75 not waiting around if it is breached, then looking for that 901.25 area to hold and go long at.