Here is a 5 minute bar chart of today's e-mini day session. I got long on the reaction from the opening (red dotted line) figuring that it would be brief and that the market would quickly rally above its opening level. Instead the e-minis have spent the first 90 minutes of the session trading below the open. This is a sign of weakness and tells me that I may have to revise my range estimate (blue rectangle) - the probability that we have seen the high of the day is increasing. However, I am going to defer such a revision until I see selling activity below yesterday's close at 873.
No matter what happens the rest of the day I think yesterday's low will hold, or at worst be broken by a couple of points. I think this market is stabilizing, building a base that will support a move up to 965-980.