after the big selloff at the open of trading in Europe, the market has worked higher since and came within a couple of ticks of hitting the overnight high.  there's always a tendency of retesting over night highs and lows.  

IN today's case, should we retest the overnight low at 1293.5, that's another 10ish points from where we are right this second.  Note also we have broken an upward trending channel (light blue) to the downside. 

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