9 Point Range

We had a 9 point range from top to bottom today for the ES session, from 4:30 pm ET Monday to 4:15 ET today.  That is an extremely narrow range.  Of course, the light volume is a negative for the bears after yesterday's rally.  Usually after a 1+% up day, narrow trading means that there is acceptance of current levels for now.  The most likely scenario I can picture is a move higher to test 1120 tomorrow or Thursday, and then fall back lower till early next week, and then a Thanksgiving Day rally next Wednesday.  I will be watching for one last gasp run up before the buyers exhaust themselves.