Less than a seven point range in the S&P E-mini to begin the week:

An inside and balanced day, Monday’s profile left a poor low with just one tick of excess at 2263.50 and a very prominent point of control at 2267.25. Price was not accepted back into Friday’s upper distribution above 2271.00.

Market profile balance trading rules could apply on Tuesday, depending on where the market opens – look either above or below the one day balance and accelerate, look above or below the balance and fail, or remain balanced. Acceptance above 2270.25 could see price attempt to repair the January 6th poor high at 2277.00, which is also the latest new S&P E-mini futures all time pit session high.

A breakout from either side of Monday’s narrow range should have better odds of continuation if price first trades to the very prominent point of control at 2267.25.