Tight Range

Futures are down slightly this morning after both Asia and Europe market's opened deep in the red.  But both markets rallied back from their lows.

Right now the SPX has been in a tight range between  970 and 980.
SPX should open around 970 today right around an area that has provided some support lately.  Watch for this level to see if the market bounces.  The longer the market stays within this range the more it can work off its overbought condition without a decline.  A break above 980 would be bullish for the index